Financial crime – Charm

NEWS: Hong Kong now hub for financial crime and sanctions evasion, claims US Congress committee

Cs news1 month ago02 mins

By Pretish M J in Bengaluru and Michael Martina LAWMAKERS in the U.S. House of Representatives have asked Treasury Secretary Janet Yellen to rethink ties with Hong Kong’s banking sector, saying the city has become a top location for money laundering and sanctions evasion. Hong Kong has turned into a hub for many violations of…

Hong Kong banks’ fraud responses beat customer expectations, survey finds

Cs news4 months ago02 mins

Banks in Hong Kong are doing a better job than expected at taking full responsibility and reimbursing lost funds after fraud events related to online banking or financial apps, according to a survey by financial technology company FIS. Some 53 per cent of the respondents said their banks assumed full responsibility and reimbursed all the…