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Enforcement
Korean Regulator Flags Sharp Rise in Foreign Exchange Breaches
By Editors | 04/07/2025
The FSS reports a 45% surge in foreign exchange violations, with failures in reporting overseas direct investments leading the breaches.
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
AUSTRAC Announces Closure of Enforceable Undertaking with Perth Mint
By Sanday Chongo Kabange | 04/07/2025
AUSTRAC has closed its enforceable undertaking against Perth Mint but warned of ongoing risks in the bullion sector.
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.
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