ENFORCEMENT

Enforcement

India’s CBI Summons Bank Officials in Major Cyber Fraud Crackdown

By Nithya Subramanian | 04/07/2025

The CBI has launched a nationwide probe into over 850,000 suspected mule accounts linked to cybercrime, amid concerns of insider collusion and weak KYC controls.

Enforcement

Korea Launches Multi-Agency Crackdown on Property-Related Loan Misuse

By Manesh Samtani | 04/07/2025

Regulators will recall loans and ban future lending for borrowers misusing business funds, as part of a multi-agency household debt clampdown

AML / KYC

SFC Fines Arta Global Futures and Suspends Ex-Directors for AML Breaches

By Editors | 04/07/2025

The SFC has penalised Arta Global Futures and suspended two former senior executives over systemic AML and trading surveillance failures.

AML / KYC

BFIU Freezes Accounts of Eastern Bank Chairman Over Suspicious Transactions

By Nithya Subramanian | 04/07/2025

Bangladesh’s FIU has frozen credit card activity as well as asked banks to submit transaction details.

AML / KYC

AUSTRAC Orders External Audit of Western Union Over “Core” AML Issues

By Sanday Chongo Kabange | 04/07/2025

AUSTRAC’s concerns are “core anti-money laundering issues” and whether Western Union’s AML/CTF programme is functional.

Enforcement

Hong Kong AFRC Fines Ex-CITIC Banker Over Insider Dealing

By Sanday Chongo Kabange | 03/07/2025

The AFRC has sanctioned Wu Kam Shing after a tribunal found he used confidential information from his banking role for personal gain.

AML / KYC

Chinese Underground Banks Use Cartel Cash for TBML – Report

By Editors | 03/07/2025

A former senior DEA official has detailed a vast trade-based money laundering network linking Chinese investors, students, and the Sinaloa cartel.

Enforcement

Australia: Ex-Wealth Manager Held in Contempt of Court

By Sanday Chongo Kabange | 03/07/2025

Joshua Fuoco will never be allowed to be involved in financial services or credit activities, following an undertaking he gave to the Federal Court.

Enforcement

Singapore’s Anti-Scam Law Empowering Police Takes Effect

By Nithya Subramanian | 03/07/2025

The new law allows police to issue ROs limiting access to banking and credit facilities for individuals believed to be at imminent risk of transferring money to scammers.