The circular said: On a number of occasions, it was observed that the AML/CFT risk assessments were not reviewed to evaluate whether they needed adjustment upon subsequent changes of the customers’ risk profiles. As a result, the assessment of the customers’ ML/TF risks was not up to date and therefore CDD and ongoing monitoring was…
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Financial secretary of Hong Kong Paul Chan, announced yesterday in his annual budget speech that he is considering changes of the regulation in the cryptocurrency sector to strengthen the anti-money-laundering (AML) norms and counter-terrorist-financing (CTF) policies. Financial Secretary Chan indicated in his speech that he was following recommendations form global financial regulator, Financial Action Task…
Read moreCompagnie Financiere Tradition SA (SWX:CFT), the Switzerland-based interdealer broker, earlier today posted its financial metrics for full year 2014. The group confirmed that the business environment in 2014 was challenging, but nevertheless managed to see a 47.5% jump in its annual consolidated net profit to CHF 32 million (USD 31.9m/EUR 30m). The group share amounted…
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