AML / KYC

AML / KYC

The Skinny on Scams: Australia, Hong Kong, and Singapore Focus on Financial Deception

By Nathan Lynch | 06/05/2025

Nathan Lynch explores the lessons from the different approaches to managing the sophistication and scale of the burgeoning “scam industry”.

Fintech / Regtech

SEBI Consults on Framework for Orderly Exit of KYC Registration Agencies

By Nithya Subramanian | 06/05/2025

KRAs would be required to develop a Standard Operating Procedure to ensuring continuity of services in the event of voluntary exit or involuntary cessation of operations.

Fintech / Regtech

South Korea Eases Crypto Restrictions, Tightens Listing Rules

By Manesh Samtani | 05/05/2025

South Korea eases rules on virtual asset sales for NPOs and crypto exchanges while tightening listing rules to enhance market stability and investor protection.

AML / KYC

BNM Fines Two MSB Licensees for Sanctions Screening Gaps

By Editors | 04/05/2025

Merchantrade Asia and JAGS Money failed to update their sanctions databases promptly. Both have since taken remedial measures.

AML / KYC

FinCEN Moves to Cut Off Cambodia’s Huione Group from US Financial System

By Nithya Subramanian | 02/05/2025

FinCEN said Huione Group laundered over $4 billion in illicit funds linked to North Korean cyber heists and cryptocurrency scams across Southeast Asia.

Enforcement

Korea Launches Amnesty Programme for Financial Crime Offenders

By Nithya Subramanian | 02/05/2025

Authorities have offered leniency to those who voluntarily turn themselves in or report accomplices, with rewards of up to KRW 100 million for tips leading to arrests.

AML / KYC

FIU-IND Sets 30 June Deadline for Reverification of Crypto User KYC Data

By Manesh Samtani | 02/05/2025

FIU-IND has directed crypto exchanges to refresh their KYC data for all users whose details are older than 18 months.

Crypto / Digital Assets

Australia NASC Reports Surge in Phishing Scams, Financial Losses

By Sanday Chongo Kabange | 02/05/2025

The NASC has recorded an increase in phishing scams, resulting in losses of AUD 11.1 million from 1 January to 23 March this year.

Securities / Derivatives

JSDA, JPX Take Steps to Address Surge in Securities Account Hacks

By Manesh Samtani | 02/05/2025

JPX is establishing a special team to enhance monitoring while JSDA is working to promote MFA and establish standards for loss compensation.