AML / KYC

    Enforcement

    Singapore Court Jails Company Director in S$25m Luxury Goods Fraud

    By Nithya Subramanian | 15/10/2025

    Pi Jiapeng was jailed for fraudulent trading, breach of director’s duties, and money laundering, a conviction that follows the 14-year sentence handed to his wife and co-conspirator.

    Sanctions

    US, UK Target Cambodian Scam Networks with Sanctions, FinCEN Rule

    By Manesh Samtani | 15/10/2025

    The actions include a Section 311 rule against a money laundering concern and the largest-ever US forfeiture of bitcoin.

    Sanctions

    Australia Introduces Sanctions Bill Targeting State Sponsors of Terrorism

    By Sanday Chongo Kabange | 14/10/2025

    The new legal framework would create offences for financing or supporting listed state entities and remove their immunity from civil proceedings.

    Crypto / Digital Assets

    Korea to Seize Crypto from ‘Cold Wallets’ in Tax Crackdown

    By Sanday Chongo Kabange | 14/10/2025

    The National Tax Service will conduct home searches and use tracking software to confiscate offline crypto assets from tax delinquents.

    Fintech / Regtech

    China Finalises Sweeping AML Rule Changes for Financial Firms

    By Mark Johnston | 14/10/2025

    New rules expand scope to more firms, mandate 10-year data retention, and clarify internal responsibilities, effective from 1 December.

    AML / KYC

    PBOC Proposes Stricter Beneficial Ownership Rules for Financial Firms

    By Manesh Samtani | 14/10/2025

    The draft regulations mandate a risk-based approach and new discrepancy reporting for financial firms' AML checks.

    Enforcement

    Korea to Require Banks to Compensate Voice Phishing Victims

    By Mark Johnston | 14/10/2025

    New data reveals that major Korean lenders cover just a fraction of voice phishing losses, prompting plans to impose mandatory compensation regardless of bank negligence.

    Securities / Derivatives

    Philippine SEC Chief Retracts PHP 1.7 Trillion Market Wipeout Claim

    By Editors | 14/10/2025

    A presidential aide labelled the figure 'fake news', with the stock exchange clarifying the actual loss was PHP 185 billion amid a widening corruption probe.

    Crypto / Digital Assets

    India Launches Crackdown on Crypto Tax Evasion via Binance

    By Nithya Subramanian | 14/10/2025

    Tax authorities said some wealthy individuals used overseas remittances under RBI’s LRS framework to fund undeclared crypto trades on foreign exchanges such as Binance.

    Trending

    FSB Warns of Systemic Risk from Slow, Inconsistent Reform Implementation

    By Manesh Samtani | 14/10/2025

    The FSB highlights "a concerning trend of delayed or stalled implementation" in key areas like Basel III and non-bank finance.

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