Financial Crime

Fraud, Scams & Cybercrime

Singapore Director Pleads Guilty to Multi-Million Dollar AI Trading Scam

By Nithya Subramanian | 02/09/2025

Ong Kai Min has pleaded guilty to cheating investors in a bogus AI trading scheme that raised nearly SGD 4 million, with funds diverted for personal and business use instead of trading as promised.

Anti-Money Laundering

Malaysia: UBB Investment Bank Case Set for Mention on 26 September

By Nithya Subramanian | 02/09/2025

A Malaysian court will hear further mention in the case against UBB Investment Bank, which faces 53 charges of failing to file STRs and an additional charge of inadequate due diligence.

Market Abuse

SocGen Penalised in Australia for Market Gatekeeper Failures

By Editors | 02/09/2025

The penalty follows an ASIC probe into suspicious client orders designed to manipulate electricity and wheat futures markets.

Anti-Money Laundering

Australia's AML/CTF Rules Seek Simplicity As FATF Deadline Looms

By Nathan Lynch | 02/09/2025

The Australian government has released the final version of the long-awaited AML/CTF Rules, ushering in the biggest change to the regime in two decades, writes Nathan Lynch.

Anti-Money Laundering

Taiwan FSC Details Widespread AML and Security Flaws at VASPs, Banks

By Editors | 01/09/2025

The FSC has published examination findings for H1 2025, revealing significant deficiencies in customer due diligence and cybersecurity.

Trade Based Money Laundering

India's Enforcement Directorate Obtains First Interpol 'Purple Notice'

By Editors | 01/09/2025

The notice details a sophisticated TBML method using shell firms and forged documents to alert 196 member countries.

Structural Regulation

Korea Move to Make Property Curbs Permanent for Foreign Investors

By Mark Johnston | 01/09/2025

Lawmakers are fast-tracking legislation to curb speculative foreign investment in real estate and address claims of reverse discrimination against locals.

Cryptocurrency

BSP Extends Moratorium on New Crypto Licences Indefinitely

By Editors | 01/09/2025

The central bank cites consumer protection and financial stability risks, continuing a freeze that was set to expire this year.

Emerging Prudential Risks

Australia's Super Fund Performance Test Sees Few New Failures

By Editors | 01/09/2025

APRA's annual test finds only seven products failed, all on platforms, prompting industry criticism and calls for reform.