Commerzbank fined by HKMA for AML breaches

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The Hong Kong Monetary Authority (HKMA) has issued a HK$6 million (US$765,000) fine on the local branch of Commerzbank for breaches of anti-money laundering laws. The disciplinary action came after Hong Kong’s de facto central bank had completed an investigation into the bank, the HKMA said in a statement on 26th August.

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