AML / KYC

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.

Sanctions

US Sanctions Human Smuggling Network Led by Indian-Mexican National

By Nithya Subramanian | 03/11/2025

OFAC sanctioned Bhardwaj Human Smuggling Organization, its leader, and 16 related companies for trafficking migrants and laundering illicit profits across multiple countries.

Fintech / Regtech

Indian Banks Switch to '.bank.in' Domain on RBI Cybersecurity Mandate

By Editors | 03/11/2025

The move, which had an October 31 deadline, aims to combat phishing and bolster customer confidence in digital banking services.

Enforcement

Singapore Seizes S$150m Linked to Cambodian Tycoon in Fraud Probe

By Nithya Subramanian | 03/11/2025

Singapore police have seized assets tied to Chen Zhi, following a global investigation into a vast money laundering and fraud network connected to forced-labour scam operations in Cambodia.

AML / KYC

Thailand Eyes New Digital Asset, Banking Rules Amid Scam Infiltration Probe

By Mark Johnston | 03/11/2025

Regulators confirm listed firms under scrutiny as AMLO seizes THB 350 million in assets linked to cross-border networks.

Enforcement

New Zealand DIA Halts Trust Firm Over 'Serious' AML Failures

By Sanday Chongo Kabange | 03/11/2025

An Auckland trust firm has agreed to cease operations after the regulator found it failed to maintain an AML programme or report suspicious activity.

Sanctions

Korea Eyes Preemptive Account Freezes Amid Cambodia AML Concerns

By Manesh Samtani | 02/11/2025

The move follows criticism over the handling of illicit funds and money laundering risks involving cryptocurrencies and overseas bank branches

Fintech / Regtech

India’s Enforcement Directorate Uncovers Scams Run by Chinese Nationals

By Nithya Subramanian | 01/11/2025

A new report found that Chinese nationals masterminded large-scale instant loan and cryptocurrency scams in India, funnelling over INR 280 billion through shell companies and digital payment channels.

AML / KYC

BNM Fines JAGS Money for AML/CFT and Receipt Failures

By Nithya Subramanian | 01/11/2025

BNM imposed an administrative penalty and compound totalling MYR 87,000 on JAGS Money for breaching AML and record-keeping rules.