AML / KYC

    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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