Anti-Money Laundering

Anti-Money Laundering

Nehal Modi Arrested in US, Faces Extradition to India over $1.5B PNB Scam

By Nithya Subramanian | 09/07/2025

Nehal Modi is accused of laundering money, destroying evidence, and intimidating witnesses in connection with one of India’s biggest banking frauds.

PEPs & Sanctions

OFAC Announces Sanctions Over DPRK Illicit IT Worker Scheme

By Editors | 09/07/2025

The action targets individuals and firms involved in a revenue-generating scheme funding North Korea's weapons programmes, OFAC said.

Anti-Money Laundering

AUSTRAC Sets Out Expectations for Incoming AML Reforms

By Editors | 08/07/2025

AUSTRAC told industry it does not expect "perfection on day one" for new AML/CTF rules, outlining a phased approach ahead of FATF evaluation.

PEPs & Sanctions

US Attacks on Iran Pose Complex Challenges for Compliance Teams

By Nathan Lynch | 08/07/2025

The escalating hostility between the US and Iran has heightened the pressure on global financial institutions to combat terrorist financing.

CBDCs

Japan's Banks Raise Cost, AML Concerns as CBDC Deliberations Deepen

By Editors | 08/07/2025

Japanese banking groups have called for clarity on the cost burden and practical system design for a potential digital yen.

Anti-Money Laundering

FATF Warns of Evolving Terrorist Financing Risks, Gaps in Global Response

By Manesh Samtani | 07/07/2025

New FATF report warns that 69% of countries are failing to prosecute terrorist financing effectively, as criminals mix new tech with old methods.

KYC & CDD

India Tightens Rules to Boost Transparency on Corporate Layering

By Nithya Subramanian | 07/07/2025

Companies must reveal detailed ownership structures under revised CRL-1 for, taking effect on 14 July.

Anti-Money Laundering

MAS Penalises Major Banks in S$3 Billion Money Laundering Probe

By Manesh Samtani | 05/07/2025

MAS has penalised nine financial institutions, including Credit Suisse and UOB, for significant AML control failures linked to a major criminal case.

Supervision & Enforcement

Korean Regulator Flags Sharp Rise in Foreign Exchange Breaches

By Editors | 04/07/2025

The FSS reports a 45% surge in foreign exchange violations, with failures in reporting overseas direct investments leading the breaches.