First ever North Korean national extradited to U.S. for money laundering charges – Implications for professional firms with clients in cross-border business

First North Korean extradited to U.S. faces money laundering charges  In March 2021, Mun Chol-myong, who has ties to the Reconnaissance General Bureau, a North Korean intelligence agency that manages the state’s clandestine operations, was the first North Korean to be extradited from Malaysia to the United States. Mun was arrested in Malaysia in 2019 on charges […]

[Public Webinar] Hong Kong Anti-Money Laundering/ Countering-Terrorist Financing (AML/CTF)

Program Date: 5 Oct 2021 (Wednesday)Time: 10 am – 11:30 amPlatform: ZOOM Online WebinarPrice: Free (on First-come-first-serve basis)Registration Closing Date: 4 Oct 2021 (earlier, if upon full registration)  09:45 – 10:05  Log in and Welcome Introduction 10:05 – 10:30 Implementing AML/CTF Internal Policies, Procedures and Controls (in English)Speaker: Mr Martin Lim, Founder and Director, Ingenique Solutions Public accountants, trust and company services […]

[Public Webinar] Implementing BNM’s Anti-Money Laundering/ Countering Financing of Terrorism (AML/CFT) Process

Program Date: 25 August 2021 (Wednesday)Time: 10 am – 11:30 amPlatform: ZOOM Online WebinarPrice: Free (on First-come-first-serve basis)Registration Closing Date: 24 Aug 2021 (earlier, if upon full registration)  09:45 – 10:05  Log in and Welcome Introduction 10:05 – 10:35 Practical Guide to implementing AML/CFT Internal Policies, Procedures and ControlsSpeaker: Mr Martin Lim, Founder and Director, Ingenique Solutions In Section 10 and 11 of the […]

How to prepare for Companies Registry (CR) AML/CTF Compliance Inspection – A checklist for busy professionals

Since the implementation of the Companies Registry’s (CR) Guideline on Compliance of Anti-Money Laundering and Counter-Terrorist Financing Requirements for Trust or Company Service Providers (TCSPs) in March 2018, it is a requirement for TCSPs to take all reasonable measures to mitigate the risk of ML/TF; and to ensure that the AML/CTF requirements under the AMLO are complied […]