Three banks fined in Hong Kong for AML breaches

Local branches of Indian Overseas Bank (IOBHK) and Bank of Communications Co. Ltd. (BCOM Hong Kong Branch) have been fined, respectively, HK$8.5 million (US$1.1 million) and HK$3.7 million (US$0.5 million), by the Hong Kong Monetary Authority (HKMA) for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). HKMA, the same day, 22 July 2025, levied a third penalty, of HK$4 million (US$0.5 million), on Bank of Communications (Hong Kong) Limited (BCOM(HK)), also for failings under the AMLO.

Local branches of Indian Overseas Bank (IOBHK) and Bank of Communications Co. Ltd. (BCOM Hong Kong Branch) have been fined, respectively, HK$8.5 million (US$1.1 million) [1] and HK$3.7 million (US$0.5 million) [2], by the Hong Kong Monetary Authority (HKMA) for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). HKMA, the same day, 22 July 2025, levied a third penalty, of HK$4 million (US$0.5 million) [3], on Bank of Communications (Hong Kong) Limited (BCOM(HK)), also for failings under the AMLO.