Untangling Asia's mixed signals on AML
Surprisingly, Singapore and Hong Kong are not at the cutting edge of anti-money laundering. But they are making efforts to catch up with the rest of the international community. Ellen Davis reports
Although
Singapore and Hong Kong are two of the Asia-Pacific region's most dynamic economies, the anti-money laundering (AML) regime in both places is more about talk and less about action, say bankers, software vendors and consultants. Although both jurisdictions are promulgating new AML rules, banks are not purchasing technology or consulting services to improve their frameworks. And those banks that are taking action are opting to build systems internally. One software vendor says: "You wouldOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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