AML / KYC

AML / KYC

China Regulators Tighten Customer Due Diligence Rules for FIs

By Mark Johnston | 02/12/2025

The new rules require FIs to implement stricter beneficial ownership and source-of-wealth checks, along with a ten-year record retention obligation.

Fintech / Regtech

India Launches New Platform to Give RBI Greater Payments Visibility

By Nithya Subramanian | 02/12/2025

The 'Banking Connect' platform gives the RBI real-time visibility into net-banking fund transfers, replacing long reporting delays and tightening oversight of high-risk payment flows.

AML / KYC

Australia Consults on Mandatory Anti-Scam Regime for Banks, Digital Platforms

By Sanday Chongo Kabange | 02/12/2025

The government has released draft rules designating sectors and outlining new obligations for preventing, detecting, and responding to scams.

Enforcement

Crypto 'Nesting' Case Exposes Gaps in Global AML Oversight

By Manesh Samtani | 02/12/2025

A European fraud investigation has revealed how nested crypto exchanges and complex offshore structures can obscure illicit funds, presenting challenges for regulators.

AML / KYC

Bendigo Bank Uncovers Systemic AML/CTF Deficiencies

By Editors | 01/12/2025

An independent review found widespread weaknesses in risk management, prompting a fully funded overhaul with unknown costs and regulatory scrutiny.

Securities / Derivatives

FSC Korea Publishes Unified Account Guidelines for Foreign Investors

By Nithya Subramanian | 01/12/2025

New guidelines detail operational procedures for omnibus accounts, ahead of a regulatory change in January 2026 aimed at boosting market access.

Crypto / Digital Assets

China Renews Crypto Crackdown, Puts Stablecoins in Crosshairs

By Manesh Samtani | 01/12/2025

Top financial and security bodies met to reinforce a ban on crypto activities, highlighting stablecoins as a key risk area.

Crypto / Digital Assets

INTERPOL Targets Illicit Finance, Scam Centres in New Global Strategy

By Manesh Samtani | 01/12/2025

Global police body unanimously approves five-year plan with new tools to trace criminal assets and disrupt human trafficking-fuelled fraud.

Fintech / Regtech

MAS, ABS Reject Calls to Loosen Anti-scam Cooling-off Rule

By Nithya Subramanian | 01/12/2025

MAS and ABS say scam risks remain too high to exempt own-account transfers from the 24-hour cooling-off rule, despite customer complaints.