AML Seminar 2023-09-21

We are going to organize a zoom seminar on Introduction to AML for CSA with the emphasis on Risk Analysis Reporting.  If you are interested, please sign up using the Google link here. Seminar Title:  Introduction to AML for CSA (202307)Time:  September 21, 2023 (15:00 to 16:30)Format:  Zoom MeetingTo Register: Client Confirmation, KYC, RBA, CDD, Sanction and Fugitive Checks (ad hoc and the entire database), PEP and TrainingHow to run the Risk …

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2022 AML Amendment Bill

The pending legislation is to require Vitual Assets and Precious Metals and Stones dealers to register and to keep all transactions for law enforcement and audit purposes. We may need to include a different set of CDDs for VA and PM/S dealers if the law get passed.

Seminar on AML

Seminar:  Introduction to AML for CSAAgenda1. How to handle the AML ordinance using the new program.2. Walking through the features in AML:  Client Confirmation, KYC, RBA, CDD, Sanction, PEP, Sanction, and Training3. Question and Answer periodTime:  August 16, 2022 (15:00 to 16:30)Format:  Zoom MeetingTo Register: If you have any question about the program, please ask before or during the seminar or call me at 2521-3110.SincerelyOscar

Wanted Lists for AML

You may have noticed that we have established a Wanted List in our website to check whether an individual is wanted by the Interpol as well as other law enforcement agencies. We are going to incorporate this useful feature into the AML system.

Invoice Register

We are going to make the change to the Invoice Registry Report for more information to users. We have added a separate row called Customer Advance. When a customer sends in a payment which is more than the invoice amount, user can first click the Customer Advance box for the excess amount, then press “Auto” …

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Sanction Check Reactivated

We have rewritten the AML Sanctin Check to coup with the changes faced in Chrome and Edge browsers. Even though it works on browsers other than the two mentioned, we think that these two are the most popular ones and we have to accomodate their changes.

Receipt in Foreign Currency

We are going to modify the issuance of Payment Receipt function in order to deal with the receipt of foreign currency for the payment of a Hong Kong dollar invoice. The new Payment Receipt will display the full amount receipt in “foreign currency” and the invoice balance outstanding in Hong Kong currency. The existing Payment …

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Sanction Check News

The recent changes of the Chrome and Edge browsers have rendered our Sanction Check and PEP PRivate’s inability to display the search results. While using other browsers may still continue to display the results, we think it is better to redo the whole Sanction Search function. Please be patient. This will not affect the existing …

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KYC and CDD for Tencent

The Wall Street Journal reported that TENCENT may face huge fine for not following the CN Money-laundering Rules. TENCENT (00700.HK) WeChat Pay is facing a record-high fine for the suspected breach of People’s Bank of China’s anti-money-laundering rules. The Chinese regulatory agency has recently discovered that WeChat Pay was not following China’s anti-money-laundering rules and …

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