AML / KYC

AML / KYC

Hong Kong Rules Out Bespoke Regime for Family Offices

By Manesh Samtani | 30/06/2025

Hong Kong will rely on existing activity-based licensing and AML laws to police the sector, while enhancing tax breaks.

AML / KYC

Australian Banking Alliance Uses Teamwork and Trust to Tackle Scams

By Nathan Lynch | 30/06/2025

Australia’s major banks have pioneered a financial crime-fighting alliance to slash scam losses using technology, teamwork and trust.

AML / KYC

Hong Kong Police Arrest Eight Involved in Share Sale Scams

By Editors | 28/06/2025

HK police have arrested eight individuals in connection with two phishing schemes targeting over 130 investors, resulting in HK$46 million in losses.

AML / KYC

Singapore’s Sheng Siong Tightens $TM Safeguards Over ML Concerns

By Nithya Subramanian | 27/06/2025

Four individuals have been arrested for allegedly exploiting the supermarket chain’s $TM system as part of a money laundering operation.

Crypto / Digital Assets

FATF Calls on Jurisdictions to Bolster Efforts on Crypto Supervision

By Manesh Samtani | 27/06/2025

FATF issued its latest progress report on the implementation of AML/CFT measures for virtual assets and a best practice paper for Travel Rule implementation.

AML / KYC

Singapore Agencies Issue Advisory to Stop Use of NRIC for Authentication

By Manesh Samtani | 27/06/2025

New joint advisory from the PDPC and CSA calls on private organisations to immediately cease the use of NRIC numbers for authentication.

AML / KYC

New Zealand’s FMA Sets Out Priorities for the Coming 12 Months

By Thisanka Siripala | 26/06/2025

The FMA’s regulatory priorities for the financial sector focus on conduct, innovation, and consumer protection.

AML / KYC

ASIC Issues Updated Guidance to Combat “Share Sale Fraud”

By Sanday Chongo Kabange | 26/06/2025

Other APAC regulators have also taken measures to prevent share sale fraud resulting from unauthorised access to securities accounts.

Sanctions

FinCEN Targets Mexican FIs, Citing Fentanyl-Related China Links

By Editors | 26/06/2025

US Treasury has targeted two banks and one brokerage for facilitating the procurement of precursor chemicals from China for illicit purposes.