KYC-data

UK Bill to provide for the regulation of competition in digital markets; to amend the Competition Act 1998 and the Enterprise Act 2002 and to make other provision about competition law; to make provision relating to the protection of consumer rights and to confer further such rights; and for connected purposes. The Act gives the UK’s competition regulator tools to stop technology businesses with strategic power from misusing their position to disadvantage competitors and consumers. The law Creates penalties for traders that break consumer protection law and allowing the Competition and Markets Authority to enforce consumer law directly. Under the rules, it will be easier for consumers to manage subscriptions by providing clearer pricing, banning fake reviews, and giving consumers greater control over what they are purchasing online.

Recently, the U.S. announced another arms sale to China’s Taiwan region. This seriously violates the one-China principle and the three China-U.S. Joint Communiqués, interferes in China’s internal affairs, and undermines China’s sovereignty and territorial integrity. Pursuant to Articles 3, 4, 5, 6, 9 and 15 of the Law of the People’s Republic of China on Countering Foreign Sanctions, China hereby decides to take countermeasures against the relevant entities and senior executives of Lockheed Martin Corporation: For the entities as listed in the attached List of Targets of Countermeasures, i.e., Lockheed Martin Missile System Integration Lab, Lockheed Martin Advanced Technology Laboratories, and Lockheed Martin Ventures: Their movable and immovable properties, and other kinds of assets within China shall be frozen. For the senior executives as listed in the attached List of Targets of Countermeasures, i.e., James Donald Taiclet, Chairman, President and Chief Executive Officer of Lockheed Martin Corporation, Frank Andrew St. John, Chief Operating Officer, and Jesus Malave, Chief Financial Officer:  Their movable and immovable properties, and other kinds of assets within China shall be frozen. All organizations and individuals within China shall be prohibited from engaging in transaction, cooperation and other activities with them.  They shall be denied visas or entry into China (including Hong Kong and Macao). This decision shall come into force as of June 21, 2024.

Together with the Swedish Police, Finnish Customs has closed down and seized the contents of network servers of the Sipulitie marketplace that was operating on the Tor network from 2023. The site was used for criminal activities, such as for the anonymous sale of narcotics. https://tulli.fi/en/-/finnish-customs-closed-down-the-sipulitie-marketplace-on-the-encrypted-tor-network

The Digital Operational Resilience Act (DORA) is a EU regulation that entered into force on 16 January 2023 and will apply as of 17 January 2025. DORA aims at strengthening the IT security of financial entities such as banks, insurance companies and investment firms and making sure that the financial sector in Europe is able to stay resilient in the event of a severe operational disruption. Full Text Available to view.

The Insurance Authority (IA) today (20 June 2024) wishes to alert members of the public to a fraudulent website with the domain name of “https[:]//xax868[.]com”. The aforesaid website purports to be the official website of authorized insurers in Hong Kong, namely AXA China Region Insurance Company (Bermuda) Limited, AXA China Region Insurance Company Limited, AXA Life Insurance Company Limited, AXA Wealth Management (HK) Limited and AXA General Insurance Hong Kong Limited (AXA). AXA has confirmed that it has no connection with the fraudulent website.

Alert Number: I-051624-PSA

The Authority of Info-communications Technology Industry of Brunei (AITI) has been developing a Personal Data Pro-tection Order (PDPO), which aims to incorporate various international data protection frameworks, strengthening Bru-nei’s data protection laws in the private sector. The order is still being finalised, with the AITI issuing a Public Consultation Paper (PCP) in 2021, seeking feedback from Government agencies, private sector organisations and the public before release

Oct 2024 : The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert to assist financial institutions in identifying and reporting suspicious activity supporting Lebanese Hizballah (Hizballah), a U.S.-designated Foreign Terrorist Organization. The alert builds upon FinCEN’s May 2024 advisory on Iran-backed terrorist organizations and offers a comprehensive overview of Hizballah’s global criminal financial networks.

The Moscow Region Arbitration Court on Wednesday froze funds of the U.S. Bank of New York Mellon (BK.N), opens new tab held by the Russian branch of Citibank (C.N), opens new tab as well as funds of JP Morgan Chase held by its Russian affiliate of Morgan Chase Bank amounting in total to about $372 million. The court decision said the action was initiated by Russia's deputy prosecutor "in defence of the interests of the Russian Federation" in connection with the Ukrainian central bank's withdrawal of the licence of MR bank with plans to wind up the bank by 2025.

The FBI is warning the public that criminals exploit generative artificial intelligence (AI) to commit fraud on a larger scale which increases the believability of their schemes. December 3rd 2024

Released Jan : 2025 Issued by the UK's FCA - FCG - A firm’s guide to countering financial crime risks The FCG provides practical assistance and information for firms of all sizes and across all FCA-supervised sectors on actions they can take to counter the risk that they might be used to further financial crime.

*EU December 2024* The Markets in Crypto-Assets Regulation (MiCA) institutes uniform EU market rules for crypto-assets. The regulation covers crypto-assets that are not currently regulated by existing financial services legislation. Key provisions for those issuing and trading crypto-assets (including asset-reference tokens and e-money tokens) cover transparency, disclosure, authorisation and supervision of transactions. The new legal framework will support market integrity and financial stability by regulating public offers of crypto-assets and by ensuring consumers are better informed about their associated risks.

In his 2025-26 Budget Speech the Financial Secretary Paul Chan outlined that Hong Kong is committed to cultivating new quality productive forces in accordance with national strategies, and to leveraging the economic potential of innovation and technology (I&T), including the development and adoption of artificial intelligence (AI). 26th Feb 2025

HKMA announced enhancements expected to be implemented by Authorized Institutions (AIs) to further strengthen the security of E-banking, for better protecting the public from evolving digital fraud trends 14th April 2025

The German government cloud (Deutsche Verwaltungscloud, DVC)was launched on 27th March 2025 following an 18-month building phase, offering a secure, standardised cloud services for government agencies everywhere in Germany

SCAM ALERT-ILLEGAL FOREIGN INVESTORS IN GHANA” In accordance with sections 8 and 52 of the Anti-Money Laundering Act 2020 (Act 1044) the Bank of Ghana cautions the public against scammers who are pretending to be “foreign investors” and promising high sums of money in return. May 9th 2025

BEIJING, June 3 2025 -- China unveiled a document to further regulate the sharing of government data to enhance the country's digital governance capabilities and the effectiveness of public services.

Following agreement by both Houses on the text of the bill it received Royal Assent on 19 June.

Notice stated; "Monzo did not obtain And/or assess sufficient information about prospective customers. In particular, the Firm failed to obtain information about the purpose and nature of the proposed customer relationship and, at times, failed to review adverse media hits for a customer unless another risk factor was present."

The Bank of England fined Vocalink Limited £11,900,000 in respect of a compliance failure under section 196 of the Banking Act 2009 (the “Act”). This is the first time the Bank has fined a financial market infrastructure firm.

Singapore, 4 July 2025… The Monetary Authority of Singapore (MAS) announced its regulatory actions against nine financial institutions (FIs) and a number of individuals for anti-money laundering related breaches. The composition penalties are as follows: BANKS --------- Credit Suisse Singapore Branch (CSSB) - S$5.8 million United Overseas Bank Limited (UOB) - S$5.6 million UBS AG, Singapore Branch (UBSS) - S$3 million Citibank N.A. Singapore (CNAS) and Citibank Singapore Limited (CSL), collectively “Citi” - S$2.6 million Bank Julius Baer & Co. Ltd., Singapore Branch (BJBS) - S$2.4 million LGT Bank (Singapore) Ltd. (LGTS) - S$1 million Capital Market Services Licence Holders ------------------------------------------------------ UOB Kay Hian Private Limited (UOBKH) - S$2.85 million Blue Ocean Invest Pte. Ltd. (BOIPL) - S$2.4 million Licensed Trust Company -------------------------------- Trident Trust Company (Singapore) Pte. Limited (TTCSPL) - S$1.8 million