KYC & CDD

    News on regulatory requirements, innovations, and challenges in customer identification, risk assessments, and due diligence processes for financial institutions.

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    Fraud, Scams & Cybercrime

    China Working with Myanmar to Address Cross-Border Crimes

    By Nithya Subramanian | 19/02/2025

    Senior Chinese officials met with officials of the Myanmar government to discuss measures to address cross-border scams and fraud.

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    Fraud, Scams & Cybercrime

    HKMA Mandates Mandatory Name Matching for All Fund Transfers

    By Sanday Chongo Kabange | 19/02/2025

    Under the HKMA’s 2021 guidance, the mandatory name matching process was only required for fund transfers of HKD 10,000 or above.

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    Anti-Money Laundering

    Sri Lanka Appoints Task Force to Oversee AML/CFT Efforts

    By Thisanka Siripala | 19/02/2025

    The primary objective of the task force is to ensure compliance with the FATF’s 40 recommendations and demonstrate effective implementation across 11 key areas.

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    Fraud, Scams & Cybercrime

    SEBI Launches Platform to Help Investors Locate Inactive Fund Investments

    By Nithya Subramanian | 18/02/2025

    The MITRA platform will serve as a searchable database that enables investors to identify forgotten mutual fund investments or claims they may be entitled to

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    Cryptocurrency

    Coinbase Discussing Market Re-entry With Indian Regulators

    By Nithya Subramanian | 17/02/2025

    Coinbase initially entered the Indian market in 2022 but was later forced to suspend operations.

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    Fraud, Scams & Cybercrime

    CBA, Telstra Expands Fraud Detection Collaboration

    By Sanday Chongo Kabange | 12/02/2025

    CBA and Telstra’s expanded pact will implement a new anti-scam technology to help protect customers from identity theft.

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    KYC & CDD

    OJK Indonesia Issues New Bank Secrecy Regulations

    By Editors | 11/02/2025

    The regulations introduce clearer procedures for authorities requesting information from banks and for banks tasked with fulfilling such requests.

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    Fraud, Scams & Cybercrime

    Thailand Cuts Electricity, Internet to Myanmar Scam Compounds

    By Manesh Samtani | 11/02/2025

    Thailand took action because kidnapping risk caused a downturn in tourism from China. Laos has now stepped in to provide electricity to Myanmar.

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    CBDCs

    MobiKwik, Cred Become First Non-Banks to Offer CBDCs in India

    By Nithya Subramanian | 05/02/2025

    The e-rupee wallets allow users to send funds to and receive funds from other e-rupee wallets as well as regular bank accounts using UPI.

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    PEPs & Sanctions

    US to Restore “Maximum Pressure” Campaign on Iran

    By Manesh Samtani | 05/02/2025

    Presidential memo directs the Treasury to enforce sanctions compliance and rescind any relief provided to Iran through licences or guidance.

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