AML / KYC

Sanctions

New Zealand MFAT Recommends Enhancements to Russia Sanctions Framework

By Manesh Samtani | 05/11/2025

A statutory review found the Russia Sanctions Act 2022 is fit for purpose but calls for targeted changes to ease compliance burdens on financial institutions.

AML / KYC

India’s Enforcement Directorate Attaches Anil Ambani Group Assets in ML Case

By Nithya Subramanian | 05/11/2025

The total value of properties attached in the Reliance Group’s bank fraud probe now exceeds INR 754.5 billion, as the ED intensifies its investigation into alleged fund diversion and loan irregularities.

Enforcement

Korea NTS Probes Prince and Huione Groups Tax Evasion, Laundering Links

By Mark Johnston | 05/11/2025

Tax agency investigating domestic offices of Prince Group and a Huione-linked currency exchange over suspected phishing proceeds and tax fraud.

AML / KYC

India Plans Unified Framework to Strengthen Crackdown on Terror Financing

By Nithya Subramanian | 05/11/2025

The government is preparing an SOP to help law enforcement and financial agencies jointly track, trace, and dismantle hidden terror-funding networks exploiting gaps in existing systems.

AML / KYC

Malaysian Association Seeks Transparency in Bank Account Closures

By Nithya Subramanian | 05/11/2025

The ACCM has asked BNM to introduce transparent procedures and an independent appeal process for sudden bank account closures, as legitimate businesses are being unfairly affected.

Enforcement

FATF Issues New Guidance to Improve Asset Recovery Outcomes

By Manesh Samtani | 04/11/2025

The FATF calls for new tools like non-conviction-based confiscation to tackle the massive failure in seizing criminal proceeds.

Sanctions

US Sanctions North Korean Bankers for Laundering Cybercrime Proceeds

By Nithya Subramanian | 04/11/2025

OFAC sanctioned eight individuals and two entities for laundering illicit funds supporting North Korea’s weapons programmes, cyberattacks, and IT operations.

Fintech / Regtech

Hong Kong Bolsters Anti-Fraud Tech to Combat Online Investment Scams

By Sanday Chongo Kabange | 03/11/2025

Regulators and police are deploying new data sharing rules, an AI-powered app, and telecom blocks to combat surging online financial fraud.

AML / KYC

India Updates GIFT City KYC Rules to Cover Financial Groups, NRIs

By Nithya Subramanian | 03/11/2025

The IFSCA has tightened digital KYC norms with new cybersecurity, AI verification, and data safeguards, while allowing limited cross-border onboarding for NRIs from select countries.