KYC & CDD

KYC & CDD

Korea Rolls Out Nationwide Mobile Resident Registration Card

By Thisanka Siripala | 18/03/2025

The initiative allows residents to access digital identification through their smartphones for use in activities such as bank account opening.

KYC & CDD

Taiwan Unveils Prototype of New Digital Identity Wallet

By Mark Johnston | 18/03/2025

The digital identity wallet will enable banks and insurance firms to save time and resources verifying the identities of customers.

Cryptocurrency

Coinbase Secures Registration with India’s Financial Intelligence Unit

By Nithya Subramanian | 17/03/2025

Coinbase, which was forced to exit the Indian market in 2022, now plans to re-launch retail services later this year.

Fraud, Scams & Cybercrime

Korea Introduces New Safeguard to Prevent Unauthorised Account Opening

By Thisanka Siripala | 17/03/2025

Consumers can apply for the ‘Non-Face-to-Face Account Opening Safe Block’ service to preemptively prevent the unauthorised creation of deposit accounts.

Anti-Money Laundering

Taiwan Government-Owned Bank Fined for AML Failures

By Thisanka Siripala | 17/03/2025

Bank of Taiwan staff made repeated remittances to foreign virtual asset exchanges over several years without investigating alerts.

KYC & CDD

GLEIF Launches Open Data Network to Foster Data Compatibility

By Thisanka Siripala | 10/03/2025

Led by GLEIF and Open Ownership, the initiative aims to embed LEIs into open data sources to enhance data utility across the public and private sectors.

Anti-Money Laundering

Philippine SEC Outlines Reforms for Staying Off FATF Grey List

By Thisanka Siripala | 05/03/2025

A new digital registry will modernise how the SEC manages beneficial ownership data. The regulator will also tighten rules governing crypto firms.

Fraud, Scams & Cybercrime

Singapore Considers Punishing Scam Offences With Caning

By Nithya Subramanian | 04/03/2025

The government will expand its efforts against money mule activities in 2025 and consider prescribing caning as a punishment for certain scam-related offences.

KYC & CDD

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.