AML / KYC

Enforcement

Chinese Regulators Impose Over ¥30M in Fines on Bank of Shanghai

By Mark Johnston | 07/08/2025

The PBOC and NFRA imposed fines on the bank over AML-related and other failures. 15 managers also held individually accountable.

AML / KYC

AUSTRAC Calls on Inactive Remittance Firms to De-register

By Sanday Chongo Kabange | 07/08/2025

AUSTRAC has told inactive remittance firms to cancel their registration or be forced out, citing risks that dormant businesses can be bought and used by criminals.

AML / KYC

Proliferation Financing: Winding Back the ‘Doomsday Clock’ Across APAC

By Nathan Lynch | 07/08/2025

APAC businesses face a daunting task complying with the new FATF proliferation financing rules, but help is at hand, writes Nathan Lynch.

Fintech / Regtech

Malaysia Anti-Scam Efforts Helping Boost Public Awareness: Survey

By Nithya Subramanian | 07/08/2025

A survey of customers found that 76% of respondents were satisfied with their banks' effectiveness in safeguarding them from scams.

AML / KYC

Malaysia Examines Proposal for Unexplained Wealth Law

By Editors | 06/08/2025

The government is studying a proposal for Unexplained Wealth Orders to combat corruption but will move slowly to avoid unintended consequences.

Enforcement

South Korea Crypto CEO Gets Second Jail Term for Fraud

By Editors | 06/08/2025

The head of the collapsed Bitsonic exchange has been convicted of a new fraud scheme while already serving a seven-year sentence for a larger case of market manipulation.

Fintech / Regtech

Korea FSS Hails Success of Online Platforms in Blocking Fraud

By Editors | 06/08/2025

Over the past year, a collaboration with Google and Kakao using AI and pre-verification has blocked over 270,000 fraudulent accounts and halved complaints about illegal ads.

Trending

RBI Scraps Approval Process for Special Rupee Vostro Accounts

By Editors | 06/08/2025

The move allows AD banks to open special accounts for foreign counterparts without prior RBI consent to speed up rupee-based trade settlements.

Crypto / Digital Assets

Philippine SEC Issues Alert on Unregistered Crypto Platforms

By Nithya Subramanian | 06/08/2025

The Philippine SEC plans to take legal action against unregistered crypto platforms targeting Filipinos, citing risks of fraud, identity theft and money laundering.