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Enforcement
Singapore Invokes OCHA in First Directive to Meta over Facebook Scam Ads
By Nithya Subramanian | 04/09/2025
The move marks Singapore’s first use of new online harm powers, targeting a surge in scams impersonating senior officials that cost victims SGD 126 million in H1 2025.
Fintech / Regtech
Philippine Bankers Association Developing New Scam Blocking Protocol
By Sanday Chongo Kabange | 04/09/2025
The new protocol will incorporate AI and big data analytics to facilitate real-time alerts and fund blocking once scam-related activity is reported.
Sanctions
US Indicts and Sanctions Chinese Chemical Firms Over Opioid Trade
By Manesh Samtani | 04/09/2025
A federal grand jury indicted four Chinese companies and 22 nationals. OFAC sanctioned one firm and two individuals in a coordinated action.
Sanctions
Australia, UK and Canada Impose New Russia Sanctions
By Manesh Samtani | 04/09/2025
Australia and UK targeting human rights abuses. Canada tightening oil price cap measures. EU considering imposing secondary sanctions.
Sanctions
US Sanctions Shipping Network with APAC Ties for Evading Iran Oil Rules
By Editors | 04/09/2025
OFAC has blacklisted a UAE-based businessman and his network of companies in the Marshall Islands and Liberia.
AML / KYC
Luxembourg Fines Alipay Europe for AML Breaches
By Sanday Chongo Kabange | 03/09/2025
The CSSF identified significant failures in transaction monitoring, customer due diligence, and outsourcing oversight at the electronic money institution.
AML / KYC
SC Malaysia Moves to Tighten Social Media Ad Rules
By Nithya Subramanian | 03/09/2025
The regulator is in talks with platforms including Meta and TikTok to restrict investment ads to whitelisted entities, after scam losses surged between 2020 and 2024.
Fintech / Regtech
BSP Warns of Penalties for FIs That Fail to Meet Anti-Fraud Deadline
By Nithya Subramanian | 03/09/2025
The central bank has warned of licence suspensions and civil charges for FIs that don't upgrade fraud management systems by 2026.
AML / KYC
SFC Bans Former UBS Director for Life Over Money Laundering Conviction
By Sanday Chongo Kabange | 03/09/2025
The SFC has permanently barred Suen Kin-wing following convictions for laundering over HKD 134 million and breaching court injunctions.
AML / KYC
AUSTRAC Fines Revolut Payments for Late IFTI Reporting
By Sanday Chongo Kabange | 03/09/2025
AUSTRAC said Revolut Payments self-disclosed the reporting failures and subsequently implemented remedial controls.
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