Financial Crime

Fraud, Scams & Cybercrime

Illicit Activity in Crypto is Decreasing, TRM Labs Finds

By Thisanka Siripala | 20/01/2025

Illicit activity in crypto decreased in 2024 as a proportion of total transactions, but ransomware, fraud, and sanctions related threats continue to persist

Capital Adequacy

RBI Releases List of Upper Layer NBFCs for 2024-25

By Mark Johnston | 20/01/2025

Upper-layer NBFCs are subject to higher capital requirements, stricter governance standards, enhanced disclosure norms and closer supervision

Anti-Money Laundering

UK Minister Resigns Over Ties to Ousted Bangladesh PM

By Nithya Subramanian | 20/01/2025

Tulip Siddiq denied any wrongdoing but said she was resigning because her position was “likely to be a distraction from the work of the government”.

Fraud, Scams & Cybercrime

Amex to Pay $230mn to Settle Case Over Deceptive Sales Practices

By Thisanka Siripala | 19/01/2025

American Express sales employees misrepresented the tax benefits of certain products and used false employer identification numbers to open accounts

PEPs & Sanctions

OFAC Unveils Final Set of Sanctions Under Biden Presidency

By Editors | 19/01/2025

The latest sanctions announcements were made over the Sudan conflict, North Korean IT workers, Houthi financing and Chinese cyber attacks.

KYC & CDD

Upbit Facing Potential Business Restrictions for AML Noncompliance

By Mark Johnston | 19/01/2025

South Korea’s largest cryptocurrency exchange is facing restrictions on conducting business with new customers for up to three months

Fraud, Scams & Cybercrime

Founder of Hindenburg Research Announces Decision to Shut Down

By Nithya Subramanian | 19/01/2025

Nate Anderson said that Hindenburg Research’s work led to nearly 100 individuals being charged civilly or criminally by regulators.

PEPs & Sanctions

US Bolsters Export Controls Ahead of Presidential Transition

By Manesh Samtani | 19/01/2025

The export controls target advanced chips, laboratory instruments, and automotive hardware and software from China. 26 firms added to Entity List.

Trading & Investment

UK, China Agree to Deepen Capital Markets Cooperation

By Manesh Samtani | 18/01/2025

The two sides agreed to enhance the UK-China Stock Connect and explore ETF and Wealth Connect schemes. The UK will also form a task force to support China capital market reforms.