AML / KYC

AML / KYC

Philippine AMLC Issues New Transaction Reporting Guidelines

By Sanday Chongo Kabange | 12/01/2025

The AMLC says the guidelines, to be adopted in phases, are intended to help covered persons carry out one of their “primary duties”

AML / KYC

Japan to Enhance Information Sharing on Illegally Used Bank Accounts

By Manesh Samtani | 10/01/2025

Mizuho, MUFG Bank, SMBC, Resona Bank, Joyo Bank, and Bank of Nagoya are participating in a JBA-led study group to develop a new information-sharing framework

AML / KYC

Rescue of Chinese Actor Turns Spotlight to Myanmar Scam Compounds

By Manesh Samtani | 10/01/2025

The actor was lured to Thailand by a promise of a job casting before being taken to Myanmar and put to work in a scam compound

Enforcement

US Court Sentences Aide of Exiled Chinese Businessman Guo Wengui

By Mark Johnston | 09/01/2025

Yvette Wang was sentenced to 10 years in prison for her involvement in a $1bn fraud scheme orchestrated by Chinese businessman Guo Wengui.

AML / KYC

Singapore Reviewing Incident Involving Exposed NRIC Numbers

By Editors | 09/01/2025

500,000 queries were made over the five days when NRIC numbers were exposed. It is not known how many NRIC numbers were disclosed, or whether computer bots were used.

AML / KYC

China FX Regulator Directs Banks to Ramp Up Risk Monitoring

By Manesh Samtani | 08/01/2025

Banks are asked to monitor for and report illegal cross-border financial activities involving underground banks, cross-border gambling, and virtual currencies

AML / KYC

Singapore Passes Law to Give Police Stronger Anti-Scam Powers

By Manesh Samtani | 08/01/2025

The law allows the police to issue restriction orders to prevent bank account holders from making transfers to scammers.

Enforcement

Najib Razak House Arrest Claim Allowed to Proceed

By Editors | 07/01/2025

Najib Razak will claim that Malaysia’s former king issued a decree allowing the former PM to serve the rest of his jail term under house arrest.

AML / KYC

Unlocking the Value of GenAI in Financial Crime Compliance

By Bradley Maclean | 07/01/2025

SymphonyAI’s Craig Robertson, DBS’ Lam Chee Kin and BOS’ Ng Kok Keong discuss the use of AI in financial crime compliance.