Financial Crime

Trading & Investment

South Korea to Fully Reinstate Short-Selling Next Monday

By Thisanka Siripala | 25/03/2025

The FSC has implemented all the reforms needed to resume short selling across all listed stocks while also preventing unfair trading.

KYC & CDD

FinCEN Issues Interim Final Rule on Beneficial Ownership Reporting

By Manesh Samtani | 24/03/2025

Only entities formed under the law of a foreign country and that have registered to do business in the US will have to report their BOI to FinCEN.

Fraud, Scams & Cybercrime

HK Considers Allowing Banks to Freeze Scam-Linked Accounts

By Sanday Chongo Kabange | 24/03/2025

HKPF and HKMA are in talks with banks on a mechanism to freeze accounts linked to fraudulent activities.

Fraud, Scams & Cybercrime

MAS Imposes Six-Year Ban on ex-Financial Adviser

By Mark Johnston | 24/03/2025

A former Professional Investment Advisory Services representative has received a prohibition order for forgery and cheating convictions.

PEPs & Sanctions

OFAC Removes Crypto Mixer Tornado Cash from Sanctions List

By Manesh Samtani | 24/03/2025

The decision follows a court decision that Tornado Cash’s smart contracts do not qualify as ‘property’ under the IEEPA.

PEPs & Sanctions

OFAC Publishes Final Rule Extending Record-keeping Requirements

By Editors | 24/03/2025

The extension of record-keeping requirements is meant to align with the extension of the statute of limitations for sanctions violations.

Fraud, Scams & Cybercrime

IOSCO Launches New Portal to Combat Investment Fraud

By Mark Johnston | 24/03/2025

I-SCAN aggregates alerts from over 150 financial regulators worldwide, allowing investors to check whether a company or investment has been flagged as unlicensed or fraudulent.

Anti-Money Laundering

Australia’s Tipping-Off Reforms Set to Bolster AML Information Sharing

By Nathan Lynch | 24/03/2025

Australia’s new “tipping off” laws will give banks and other reporting entities far more flexibility in the way they handle sensitive information, writes Nathan Lynch.

Structural Regulation

Hong Kong Trust Industry Facing Regulatory Challenges

By Mark Johnston | 23/03/2025

HKTA and KPMG published a report shedding light on the state of  Hong Kong’s trust industry, including mounting compliance costs and regulatory challenges.