Money Laundering Bulletin
Yardley Securities fined HK$5m over third party transfers & wider AML breaches
The Hong Kong Securities and Futures Commission (SFC) has levied a HK$5 million (US$ 644,000) fine on Yardley Securities Ltd
(YSL) and reprimanded it for lack of due diligence and inadequate interrogation of unusual/suspicious third party transfers
into customer accounts as well as for other fundamental failings in its anti-money laundering controls.