Financial Crime

PEPs & Sanctions

HKMA Issues Guidance to Curb 'Overly Cautious' AML Checks on PEPs

By Sanday Chongo Kabange | 24/11/2025

The HKMA’s new 'Smart Tips' guidance clarifies rules for domestic and former PEPs, urging banks to adopt a more proportionate, risk-based approach.

Anti-Money Laundering

AML/CFT Officials Discuss FATF Work to Promote Financial Inclusion

By Manesh Samtani | 24/11/2025

The FATF is encouraging simplified measures for low-risk customers and clarifying that over-compliance is counterproductive.

Structural Regulation

Australia Moving Ahead with Reforms to Insolvency Framework, Official Confirms

By Manesh Samtani | 23/11/2025

The government is proceeding with changes to bankruptcy rules and targeting system misuse to support business renewal and responsible risk-taking.

Anti-Money Laundering

HKMA Reports on AI Adoption Status in Transaction Monitoring

By Sanday Chongo Kabange | 23/11/2025

The HKMA revealed high uptake following its September 2024 directive and announced new workshops on the use of AI and crypto-related risks.

Fraud, Scams & Cybercrime

Bangladesh Court Remands Former Bank Chairman in $15.5m Fraud Case

By Mark Johnston | 23/11/2025

A Dhaka court has denied bail to Obayed Ullah Al Masud following an ACC petition linking him to a significant loan misappropriation scheme involving state-owned Agrani Bank.

PEPs & Sanctions

US Imposes Sanctions on Iran Oil Network Including India Targets

By Manesh Samtani | 23/11/2025

The targets include Mumbai-based RN Ship Management Private Limited and its two leaders over shipments of Iranian oil.

Cryptocurrency

Vanuatu Establishes Regulatory Regime for Virtual Assets

By Sanday Chongo Kabange | 22/11/2025

The VFSC has launched a new licensing regime for VASPs, mandating compliance with global AML/CFT standards.

Anti-Bribery & Corruption

Former Chairman of New China Life Insurance Receives Suspended Death Sentence

By Mark Johnston | 21/11/2025

Li Quan will have to serve life imprisonment for illegally obtaining CNY 213 million over a period spanning more than a decade.

Payments & Settlements

Australia Releases Findings from Payments Infrastructure Consultation

By Manesh Samtani | 21/11/2025

The consultation revealed calls for enforceable standards, clear fraud liability, and stronger governance before legacy payment systems are retired.