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Financial Crime
Fraud, Scams & Cybercrime
Malaysian NGO Urges Broader Probe into Civil Servant Loan Scam
By Nithya Subramanian | 17/06/2025
The MHO is urging a wider investigation into a loan scheme that allegedly defrauded civil servants, as part of a larger corruption and money laundering probe under MACC’s Op Sky.
Anti-Money Laundering
Bangladesh Considers Settlement Deals in Bid to Recover Illicit Funds
By Mark Johnston | 17/06/2025
The interim administration is considering civil suits and financial deals as part of broader efforts to reclaim assets and stabilise the economy.
Cybersecurity
JVCEA Makes Multi-factor Authentication Mandatory for Members
By Thisanka Siripala | 17/06/2025
The measure comes after a spate of unauthorised transactions in securities accounts this year, highlighting a need to strengthen login security.
Fraud, Scams & Cybercrime
HK and SG Police Dismantle Cross-Border Scam Syndicate
By Sanday Chongo Kabange | 17/06/2025
The joint operation resulted in 8 arrests and seizures of HKD 18 million in SIM cards used for phone scams.
Anti-Money Laundering
JBA Implements Ban on Cash Storage in Safe Deposit Boxes
By Thisanka Siripala | 17/06/2025
Revised JBA guidance will prohibit the storage of cash in safe deposit boxes, in line with the FSA’s revised supervisory guidelines.
KYC & CDD
SFC Imposes Restrictions on GA (Int’l) Capital Management
By Sanday Chongo Kabange | 17/06/2025
GCML said the restriction notice has no effect on its global operations, and that the matter stems from a “third-party client violation” rather than misconduct by the firm.
Anti-Money Laundering
SBV Revises AML Rules to Secure Exit from FATF Grey List
By Sanday Chongo Kabange | 16/06/2025
The SBV is revising its AML regulations to enhance effectiveness and facilitate Vietnam’s removal from the FATF grey list.
Anti-Money Laundering
FATF Approves New Transparency Standards for Cross-Border Payments
By Manesh Samtani | 16/06/2025
The plenary also endorsed updated financial inclusion guidance to address the issue of ‘de-risking’ and agreed to publish several other reports.
Anti-Money Laundering
New Companies Transparency Law Takes Effect in Singapore
By Nithya Subramanian | 16/06/2025
All newly incorporated companies and LLPs will be required to disclose their ownership and control details.
Anti-Money Laundering
HK Customs Working With HKU to Develop Crypto Tracing Tool
By Sanday Chongo Kabange | 16/06/2025
Hong Kong Customs has partnered with HKU to create a tool for tracing illicit activities involving cryptocurrencies.
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