Tag: AML
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SFC Fines Crypto Exchange for AML Failures
The Securities and Futures Commission (SFC) has imposed a HK$12 million fine on a licensed virtual asset trading platform for systemic deficiencies in its anti-money laundering (AML) and know-your-customer (KYC) controls, marking one of the most significant enforcement actions against a VASP in Hong Kong to date. Key Findings The SFC’s investigation, conducted between January…
