AML / KYC

AML / KYC

FATF Seeking Input on Techniques for Mitigating PF Risk

By Manesh Samtani | 04/03/2025

The FATF aims to publish a report providing a comprehensive understanding of complex sanctions evasion schemes relevant to proliferation financing.

AML / KYC

Singapore Concludes Review of Incident Involving Exposed NRIC Numbers

By Nithya Subramanian | 04/03/2025

A review panel found shortcomings by ACRA and MDDI and offered recommendations to prevent similar incidents from recurring.

AML / KYC

US Treasury Suspends Enforcement of Corporate Transparency Act

By Manesh Samtani | 04/03/2025

The BOI reporting rule will be amended to “narrow the scope of the rule to foreign reporting companies only”. US citizens and companies won’t have to file BOI reports.

Enforcement

RBI Imposes Penalty on HSBC for Regulatory Violations

By Nithya Subramanian | 04/03/2025

The RBI said HSBC violated KYC norms, failed to report unhedged foreign currency exposures, and opened savings deposit accounts for ineligible entities.

AML / KYC

SC Malaysia and MCMC to Strengthen Anti-Scam Coordination

By Nithya Subramanian | 04/03/2025

The partnership will enhance cooperation by leveraging AI and enforcing measures more swiftly to protect investors and consumers.

AML / KYC

ASIC Intensifies Enforcement Efforts, Investment Scam Crackdown

By Thisanka Siripala | 03/03/2025

ASIC shut down more than 10,000 fraudulent websites since mid-2023 and launched 109 new investigations in H2 2024.

AML / KYC

FATF Proposes Updates to Financial Inclusion Guidance

By Nithya Subramanian | 28/02/2025

The FATF is seeking feedback on balancing financial inclusion with AML/CFT compliance, particularly in digital finance transactions.

AML / KYC

US ‘Gold Visa’ Proposal Appealing to Criminals: Transparency Int’l

By Nithya Subramanian | 28/02/2025

EU officials have previously warned that golden visa programmes could be used for money laundering, tax evasion and corruption.

AML / KYC

FATF Greylist Holds ‘Sting in Tail’ for Asia’s Developing Countries

By Nathan Lynch | 27/02/2025

The FATF’s decision to greylist Nepal and Laos raises questions about whether countries should be punished when they are clearly working on the required AML/CFT improvements.