Financial Crime

AI Risk & Governance

Taiwan FSC Survey Reveals Growing Use of AI Among FIs

By Manesh Samtani | 29/05/2025

FSC survey reveals increased use of AI and generative AI among financial firms, focusing on operational improvements and fraud prevention.

KYC & CDD

BNM Fines Multiple Banks for AML and Reporting Failures

By Nithya Subramanian | 29/05/2025

Bank Pembangunan and two HSBC entities were penalised for failures to properly identify and verify beneficial owners.

Conduct, Culture & Accountability

Hong Kong Unveils Measures to Enhance Financial Services for Elderly

By Sanday Chongo Kabange | 29/05/2025

The measures include strengthening financial planning education, anti-scam education initiatives, and making banking services more elderly-friendly.

Market Abuse

Singapore Court Jails Trader for Market Manipulation

By Nithya Subramanian | 29/05/2025

Calvin Gan traded illiquid stocks on SGX by exploiting a trading algorithm used by Merrill Lynch. He used fake orders to profit from its automated responses.

Anti-Money Laundering

Singapore Updates Accountancy Code to Strengthen Tax Planning Ethics

By Editors | 29/05/2025

ACRA adopts global standards for tax services, effective July 2025, with transitional provisions for existing engagements.

Anti-Money Laundering

Chinese Underground Banking Key to Global Crime – Report

By Manesh Samtani | 29/05/2025

Chinese underground banking networks facilitate North Korean hacking, drug cartels, and sanctions evasion, says TRM Labs report.

KYC & CDD

BSP Issues Directions to Banks on Adverse Media Screening

By Sanday Chongo Kabange | 28/05/2025

Banks must include adverse media screening during onboarding and during transaction monitoring to identify financial crime threats.

KYC & CDD

GLEIF Launches Global Partner Programme to Boost LEI Adoption

By Editors | 28/05/2025

The initiative aims to expand the use of the LEI and vLEI through collaboration with data vendors, financial institutions and tech firms.

Anti-Money Laundering

Interpol Issues First Two Silver Notices at India’s Request

By Manesh Samtani | 28/05/2025

India secured two Interpol Silver Notices, one to trace assets in a visa fraud case and the other for a crypto scam case.