Financial Crime

Fraud, Scams & Cybercrime

China Working with Myanmar to Address Cross-Border Crimes

By Nithya Subramanian | 19/02/2025

Senior Chinese officials met with officials of the Myanmar government to discuss measures to address cross-border scams and fraud.

Fraud, Scams & Cybercrime

HKMA Mandates Mandatory Name Matching for All Fund Transfers

By Sanday Chongo Kabange | 19/02/2025

Under the HKMA’s 2021 guidance, the mandatory name matching process was only required for fund transfers of HKD 10,000 or above.

Conduct, Culture & Accountability

Australia Legislates to Prevent a Repeat of Robodebt Scandal

By Thisanka Siripala | 19/02/2025

Law passed to impose stricter accountability measures on government agencies and require public officials to cooperate in Ombudsman investigations.

Anti-Bribery & Corruption

Former Shanghai Exchange Official Facing Prosecution for ‘Corrupt Practices’

By Mark Johnston | 19/02/2025

Former deputy general manager of SSE was found to have frequently accepted expensive gifts and large sums of money.

Fraud, Scams & Cybercrime

Vietnam to Start Compensating Saigon Commercial Bank Bondholders

By Nithya Subramanian | 19/02/2025

Ho Chi Minh City authorities have seized over $315mn intended for compensating victims affected by Truong My Lan’s embezzlement scandal.

Fraud, Scams & Cybercrime

Singapore Issues Warning on Unauthorised Mobile Wallets Transactions

By Nithya Subramanian | 19/02/2025

Banks will require additional verification such as in-app controls or digital token authentication for provisioning cards onto mobile wallets.

Fraud, Scams & Cybercrime

FMA Issues Alert on Fake Online Investing Platforms

By Sanday Chongo Kabange | 19/02/2025

The FMA has identified a “large network” of fake online investing platforms involving 96 duplicate websites or platforms.

Anti-Money Laundering

Sri Lanka Appoints Task Force to Oversee AML/CFT Efforts

By Thisanka Siripala | 19/02/2025

The primary objective of the task force is to ensure compliance with the FATF’s 40 recommendations and demonstrate effective implementation across 11 key areas.

Anti-Money Laundering

Risk Assessments a Core Part of Australia’s New AML Regime

By Nathan Lynch | 18/02/2025

The reforms passed in November send a clear message that risk assessments and AML programmes need to respond to changes in the financial crime risk landscape.