Financial Crime

KYC & CDD

RBI Simplifies KYC Rules for Low-Risk Customers

By Nithya Subramanian | 16/06/2025

Banks can use Business Correspondents to assist with collecting customer self-declarations regarding unchanged KYC details or address updates.

Credit Risk

Korean Regulators to Tighten Oversight of Mortgage Lending

By Thisanka Siripala | 16/06/2025

Financial regulators pledge stricter monitoring of real estate-linked loans and bank compliance with loan growth targets.

Anti-Money Laundering

UK Freezes Properties Tied to Former Bangladeshi Minister

By Nithya Subramanian | 16/06/2025

The UK has frozen more than 300 properties linked to Bangladesh’s former land minister, including a high-end residence in North London.

PEPs & Sanctions

EU Proposes Sanctions on Two Chinese Banks over Russia Trade Links

By Editors | 14/06/2025

The EU has proposed sanctions on two small regional Chinese banks as part of the 18th package of sanctions against Russia.

Fraud, Scams & Cybercrime

Australia: Ransomware Payment Reporting Requirement Now in Effect

By Thisanka Siripala | 13/06/2025

Businesses and critical infrastructure operators must report ransomware payments within 72 hours or face civil penalties.

Fraud, Scams & Cybercrime

ASIC Bans ex-Financial Adviser for 10 Years Over Crypto Scam

By Thisanka Siripala | 13/06/2025

ASIC says Rogan misled clients into investing in a fraudulent cryptocurrency platform while posing as a licensed adviser.

Conduct, Culture & Accountability

ASIC Sues Australian Unity for Failing to Screen Fund Investors

By Thisanka Siripala | 13/06/2025

ASIC alleges Australian Unity issued fund interests to retail investors without verifying if they were within the product’s defined target market.

Anti-Money Laundering

Australia: Four Arrested Over Multimillion-Dollar Crypto Laundering Scheme

By Thisanka Siripala | 13/06/2025

Security company used armoured cash transport services and other legitimate businesses to mix illicit and legitimate funds before converting them into crypto.

Fraud, Scams & Cybercrime

SEBI Announces Launch of Verified UP IDs to Curb Fraud

By Nithya Subramanian | 13/06/2025

All registered market intermediaries will have to adopt new UPI handles. Investors will have a new verification tool to verify the legitimacy of UPI IDs.