Financial Crime

PEPs & Sanctions

EU, Australia Announce Tightening of Sanctions on Russia

By Manesh Samtani | 20/09/2025

The EU proposes targeting Chinese and Indian firms in a new package, while Australia lowers the Russian oil price cap in a coordinated push.

KYC & CDD

Japanese Banks Team Up with Power Utilities to Curb Money Laundering

By Nithya Subramanian | 19/09/2025

The system will cross-check new bank account applications against utility contract data, helping prevent identity fraud and reduce verification costs for financial institutions.

Supervision & Enforcement

Korea to Overhaul Corporate Crime Laws, Ease “Breach of Trust” Penalties

By Mark Johnston | 19/09/2025

The government plans to reform thousands of economic criminal penalties to spur investment and remove “regulatory spider webs” hindering business.

Cybersecurity

MAS Warns of Growing Deepfake Cyber Threats to Financial Sector

By Nithya Subramanian | 19/09/2025

New paper outlines the growing cyber threats posed by deepfakes to the financial sector, urging FIs to strengthen their defences against fraud and misinformation.

Credit Risk

Bangladesh Bank Approves Merger of 5 Entities into New State-owned Lender

By Nithya Subramanian | 19/09/2025

BB said that existing boards of 5 Islamic banks will be dissolved, administrative teams will be appointed and depositors will be protected.

Fraud, Scams & Cybercrime

HKMA Prepares to Roll Out Personal Account Info-Sharing to Combat Fraud

By Manesh Samtani | 19/09/2025

The HKMA is enabling banks to share client data on suspected mule accounts, part of a broader push involving AI and data analytics.

Operational Risk

ASIC Tests Super Trustee Duties in Court Amid Widening Probe

By Editors | 19/09/2025

Regulators are pursuing "landmark" legal action and a wider industry probe following the collapse of high-risk funds.

Market Abuse

US Regulator Fines Korea's Shinhan Securities for NYMEX Wash Trades

By Editors | 19/09/2025

The Korean firm will pay a USD 212,500 penalty for executing trades that negated market risk, receiving a reduced fine for cooperation.

Anti-Bribery & Corruption

China to Prosecute Another Former ICBC President in Corruption Crackdown

By Mark Johnston | 18/09/2025

Xu Jie, former president of ICBC's Henan branch, has been expelled from the Chinese Communist Party as China's anti-graft campaign continues to target high-level finance officials.