ENFORCEMENT

AML / KYC

BFIU Freezes Accounts of Eastern Bank Chairman Over Suspicious Transactions

By Nithya Subramanian | 04/07/2025

Bangladesh’s FIU has frozen credit card activity as well as asked banks to submit transaction details.

AML / KYC

AUSTRAC Orders External Audit of Western Union Over “Core” AML Issues

By Sanday Chongo Kabange | 04/07/2025

AUSTRAC’s concerns are “core anti-money laundering issues” and whether Western Union’s AML/CTF programme is functional.

Enforcement

Hong Kong AFRC Fines Ex-CITIC Banker Over Insider Dealing

By Sanday Chongo Kabange | 03/07/2025

The AFRC has sanctioned Wu Kam Shing after a tribunal found he used confidential information from his banking role for personal gain.

AML / KYC

Chinese Underground Banks Use Cartel Cash for TBML – Report

By Editors | 03/07/2025

A former senior DEA official has detailed a vast trade-based money laundering network linking Chinese investors, students, and the Sinaloa cartel.

Enforcement

Australia: Ex-Wealth Manager Held in Contempt of Court

By Sanday Chongo Kabange | 03/07/2025

Joshua Fuoco will never be allowed to be involved in financial services or credit activities, following an undertaking he gave to the Federal Court.

Enforcement

Singapore’s Anti-Scam Law Empowering Police Takes Effect

By Nithya Subramanian | 03/07/2025

The new law allows police to issue ROs limiting access to banking and credit facilities for individuals believed to be at imminent risk of transferring money to scammers.

Enforcement

BUSSQ Publishes Independent Expert Report on Remediation Efforts

By Sanday Chongo Kabange | 02/07/2025

APRA confirmed that BUSSQ has issued the report, which details the super fund’s efforts to address governance and risk management deficiencies.

Enforcement

Korean Banks in Cambodia Accused of Predatory Lending

By Editors | 02/07/2025

A new report alleges predatory lending by Korean-owned banks in Cambodia is causing widespread debt, land loss and rights abuses.

Enforcement

ASIC Sues Delta for Futures Market Manipulation

By Sanday Chongo Kabange | 02/07/2025

ASIC alleges that Delta engaged in futures market and financial benchmark manipulation on 30 occasions.