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More than one bank in Hong Kong being investigated for non-compliance with money laundering rules

The Hong Kong Monetary Authority’s (HKMA) deputy chief executive, Arthur Yuen, highlighted non-compliance with money laundering rules amongst some banks in Hong Kong, adding that multi-million dollar fines could be issued. Yuen did not specify the name of the banks or how many were under investigation, according to media reports, but noted that “there are more than one”. Yuen added…

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