Hong Kong’s securities regulator has reported a huge surge in the number of occasions when financial institutions in the city have failed to comply with anti-money laundering (AML) guidelines. In its annual report for 2015-2016, the Securities and Futures Commission (SFC) confirmed that the number of rule breaches in the year ending 31 March had risen by an astonishing 91 percent from 117 to 223 incidents. Financial penalties imposed during the year were also up by 58 percent to US$11.2 million, and this included a penalty of almost US$4 million imposed on JP Morgan in December for a series of control failures. The results of the SFC report are a reminder to companies of the need to implement a rigorous know-your-customer (KYC) process.
Asia Pacific | China criminalises foreign bribery
The amendment adds a paragraph to the pre-existing provision of the criminal law that “Whoever, for the pur...
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Compliance challenges for foreign corporations in Japan and Japanese companies abroad
Japan is the world’s third largest economy and home to some of the largest global corporations. Many organisations based outside of Japan have also expanded into the country.
Proper due diligence is ongoing and never static
Ongoing due diligence doesn’t only ensure that you’re on top of your partner’s compliance but also ensures that you’re meeting the ever-increasing regulatory demands.
Preparing for the California Consumer Privacy Act
Businesses are required to be CCPA-compliant or risk monetary liability or civil action. What actions do you need to prepare for compliance with the California Consumer Privacy Act?
Driving integrity into the supply chain | Trust, but verify
Explore how an organisation can establish an effective programme for verifying their supply chain partners.
Webinar: Practical steps to create or improve your whistleblowing system
Practical steps to create or improve your whistleblowing system
Offset agreements and hidden compliance risks
Although often legitimate, offset agreements have been known to be used to cover bribes and kickbacks. All compliance officers should be aware that these risks do exist and know how to identify them.
Avoiding successor liability
Understanding the background of your target, prior to transacting, plays a crucial role in minimising exposure to potential liabilities and risks.
Five most common red flag zones in China
China is increasing efforts to align itself with international anti-corruption standards by taking stronger action and enforcements against wrongdoers under its Anti-bribery Laws.
Driving Integrity into the Supply Chain | Report and Optimise
Webinar: Driving Integrity into the Supply Chain | Report and Optimise
Driving Integrity into the Supply Chain | Trust but Verify
Webinar: Driving Integrity into the Supply Chain | Trust but Verify
Developing and maintaining a policy lifecycle management system
Technology tools can play an integral role in helping organisations minimise risk in this area. The Red Flag Group’s ComplianceDesktop® Technology Platform manages the lifecycle of policies...
Why ESG compliance can’t be ignored
The compliance landscape is becoming even more complex resulting from increased pressure for companies to publicly prove their commitment and disclose how they are addressing ESG risks and compliance.
Supply chain and compliance in the agricultural sector
There is a strong case for companies engaged in the agri-food business to understand the necessity of developing a robust due diligence and risk-management framework.
Three practical ways to sustain post transaction compliance
There are a number of considerations that must be given close attention to ensure that the prospective benefit of business transactions are not undermined. Learn about the top three.
The missing piece of country intelligence gathering
Compliance risks appear to be receiving much less coverage than they deserve in typical country intelligence offerings.
How to nurture a culture of ethics
Programmes that look good on paper may fall short if not put into action properly. A culture of ethics makes employees feel that acting ethically is the right thing to do.
Webinar: Driving Integrity into the Supply Chain | Setting expectations for success
Webinar: Driving Integrity into the Supply Chain - Setting Expectations for Success
Database screening for third party compliance
Companies have a number of choices when deciding how to quantify and deal with the compliance risks related to their partners. For higher-risk partners, active due diligence exercises...
Human rights and multinational business
The concept of including human rights in corporate risk management has broad implications for business across all sectors. One of the more immediate industries affected by this movement is the energy
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