Financial Crime

Fraud, Scams & Cybercrime

Malaysian Telcos Activate MyDigital ID to Curb Mobile Fraud

By Nithya Subramanian | 02/12/2025

The rollout includes Single Sign-On (SSO) integration with the national digital identity platform, enhancing safeguards against account breaches and phishing attempts.

KYC & CDD

RBI Harmonises KYC Rules for All Entities in Payments Industry

By Nithya Subramanian | 02/12/2025

The framework covers prepaid issuers, payment aggregators, AePS operators and remittance providers, standardising compliance requirements and removing ambiguity.

Fraud, Scams & Cybercrime

EU Agrees to Shift Fraud Liability to Payment Providers and Online Platforms

By Manesh Samtani | 02/12/2025

New framework introduces mandatory payee verification, enhances open banking access, and makes payment firms liable for impersonation scams.

KYC & CDD

China Regulators Tighten Customer Due Diligence Rules for FIs

By Mark Johnston | 02/12/2025

The new rules require FIs to implement stricter beneficial ownership and source-of-wealth checks, along with a ten-year record retention obligation.

Structural Regulation

China Progresses Major Reforms for Accounting Industry

By Manesh Samtani | 02/12/2025

The proposed amendment introduces a new audit framework for specific entities, a tiered liability system, and stricter cross-border data rules.

Market Abuse

Japan Makes First Arrests in $4.6b Securities Hijacking Probe

By Mark Johnston | 02/12/2025

Authorities apprehend two suspects linked to a market manipulation scheme involving hijacked online accounts and record-breaking fraudulent trading volumes.

Payments & Settlements

India Launches New Platform to Give RBI Greater Payments Visibility

By Nithya Subramanian | 02/12/2025

The 'Banking Connect' platform gives the RBI real-time visibility into net-banking fund transfers, replacing long reporting delays and tightening oversight of high-risk payment flows.

Fraud, Scams & Cybercrime

Australia Consults on Mandatory Anti-Scam Regime for Banks, Digital Platforms

By Sanday Chongo Kabange | 02/12/2025

The government has released draft rules designating sectors and outlining new obligations for preventing, detecting, and responding to scams.

Anti-Money Laundering

Crypto 'Nesting' Case Exposes Gaps in Global AML Oversight

By Manesh Samtani | 02/12/2025

A European fraud investigation has revealed how nested crypto exchanges and complex offshore structures can obscure illicit funds, presenting challenges for regulators.