According to the recent research, there are over 80% of people would be motivated to exercise if incentivized by crypto...


Recent Study Reveals That Crypto Motivates People to Exercise

On Friday, Prime Minister Ranil Wickremesinghe warned of a food shortage as the island nation battles a devastating economic...


Thousands queue for petrol, gas in Sri Lanka amid warnings of food shortages

ASML, a semiconductor industry and stock market giant, might have to think smaller. Or maybe bigger. Currently, it is building machines...


Computer chip giant ASML places big bets on a tiny future

Finance ministers and central bank governors of the United States, Japan, Canada, Britain, Germany, France and Italy - the G7, agreed on...


Money for Ukraine Priority in G7 Agenda; Inflation, Food a Concern

An auto safety agency in the U.S. said on Wednesday that it has opened an investigation into a fatal crash involving a Tesla...

Stock Markets

U.S. Agency opens investigation involving Tesla due to 14 Crash Deaths

Stock Markets

24 Oct 2021

Clients in Breach of Law Could Have Property Disclosed by Hong Kong Banks

Clients in Breach of Law Could Have Property Disclosed by Hong Kong Banks

The Index Today

Clients in breach of Hong Kong’s national security law will now have their property disclosed by banks according to updated guidelines issued by the banking association in the region.

The Hong Kong Association of Banks HKAB released the new guidelines on its FAQ’s as it moves ahead to support anti-money laundering and terrorism financing laws. These were published on the official website of the Hong Kong Monetary Authority HKMA.

Banks are now required to disclose all property documents of clients who have been charged with property related offense, threat to national security, and more. China introduced its national security legislation last year which could put any person charged with terrorism behind bars for life. Banks are obligated to report any client offenses under the new guidelines. Any transactions which are suspected to be linked to money laundering or terrorism will be obtained by officials. These guidelines are applicable on all Honk Kong banks as well as international banks.

©Photo: wallpapersafari