AML / KYC

Enforcement

Korean Banks Face Signficant Annual Costs for Fraud Compensation

By Mark Johnston | 06/04/2026

Proposed legal amendments that would force financial firms to compensate fraud victims could cost financial firms up to KRW 281.1 billion annually.

AML / KYC

Japan Toughens AML Rules to Combat Mule Accounts and 'Dark' Part-Time Jobs

By Sanday Chongo Kabange | 06/04/2026

Proposed legal amendments will increase penalties for illicit bank account trading and introduce new police powers to combat rising fraud and money laundering.

AML / KYC

SC Malaysia, MCMC Ink Pact to Fight Investment Scams

By Nithya Subramanian | 06/04/2026

The regulators will use AI and enhance intelligence sharing to combat fraudulent schemes exploiting digital platforms.

Securities / Derivatives

Korea Simplifies Foreign Investor Onboarding With New LEI System

By Mark Johnston | 06/04/2026

The Korea Securities Depository has launched a real-time certificate service, replacing cumbersome translation and notarisation requirements for account opening.

Trending

Japan to Launch System for Sharing Fraud Data in April 2027

By Manesh Samtani | 03/04/2026

The initiative aims to accelerate the freezing of accounts used for financial crimes amid record losses from scams.

AML / KYC

AUSTRAC Orders AML/CTF Audit of Payments Firm mHITs

By Sanday Chongo Kabange | 03/04/2026

AUSTRAC has ordered an external audit of mHITs Limited amid concerns its transaction monitoring is failing to manage serious risks, including child exploitation financing.

Fintech / Regtech

Japan Finalises Stricter AML/CFT Guidelines for Financial Firms

By Manesh Samtani | 03/04/2026

Revised rules clarify requirements for risk assessments, technology adoption, and the management of outsourced functions, and will apply immediately.

AML / KYC

Korean Police Bust KRW 13 Billion Phishing Ring Impersonating Regulators

By Sanday Chongo Kabange | 03/04/2026

The China-based syndicate impersonated financial regulators and prosecutors to defraud 81 victims over a one-year period, prompting police warnings.

Sanctions

Cambodia Extradites Former Huione Chairman to China to Face Charges

By Manesh Samtani | 02/04/2026

Li Xiong, described as a "core backbone member" of Chen Zhi's syndicate, has been extradited to China amid allegations of money laundering and fraud.