KYC & CDD

Anti-Money Laundering

FSC Korea Fines Upbit Operator Dunamu for AML Breaches

By Manesh Samtani | 07/11/2025

The fine follows the discovery of millions of customer due diligence and transaction restriction failures at Korea's largest crypto exchange.

Anti-Money Laundering

Japan FSA Orders Iwaki Shinkumi Bank to Improve Governance

By Nithya Subramanian | 07/11/2025

The FSA has issued a business improvement order against Iwaki Shinkumi Bank after uncovering serious compliance lapses, fraudulent lending and links to anti-social forces.

PEPs & Sanctions

New Zealand MFAT Recommends Enhancements to Russia Sanctions Framework

By Manesh Samtani | 05/11/2025

A statutory review found the Russia Sanctions Act 2022 is fit for purpose but calls for targeted changes to ease compliance burdens on financial institutions.

KYC & CDD

India Updates GIFT City KYC Rules to Cover Financial Groups, NRIs

By Nithya Subramanian | 03/11/2025

The IFSCA has tightened digital KYC norms with new cybersecurity, AI verification, and data safeguards, while allowing limited cross-border onboarding for NRIs from select countries.

Anti-Money Laundering

BNM Fines JAGS Money for AML/CFT and Receipt Failures

By Nithya Subramanian | 01/11/2025

BNM imposed an administrative penalty and compound totalling MYR 87,000 on JAGS Money for breaching AML and record-keeping rules.

KYC & CDD

TAIFEX Amends Account Opening Rules for Taiwan Nationals

By Sanday Chongo Kabange | 29/10/2025

The exchange's new identity verification requirements for domestic investors without household registration will take effect in January 2026.

Fraud, Scams & Cybercrime

Malaysian Consumer Group Seeks Tougher Penalties for Telcos Over Rising Scams

By Nithya Subramanian | 29/10/2025

The Malaysian Muslim Consumers Association is calling on the government to fine telcos up to MYR 50,000 for lax SIM registration procedures.

PEPs & Sanctions

China, India Refiners Halt Russian Oil Buys After New US Sanctions

By Editors | 28/10/2025

State-owned firms in both nations are pausing seaborne crude purchases from Rosneft and Lukoil, citing compliance and sanctions risks.

Anti-Money Laundering

China Imposes New AML Reporting Duties on Financial Firms

By Manesh Samtani | 28/10/2025

The PBOC has clarified its regulatory structure and mandated new event-based and annual AML reporting.