AML / KYC

Enforcement

Australia Identifies 5,000 Potential Victims of Romance Scams

By Sanday Chongo Kabange | 01/02/2025

The potential victims were identified from devices found by Philippine authorities at a Manila-based scam compound

AML / KYC

ASIC Calls Out Super Funds for Weak Anti-Scam Practices

By Thisanka Siripala | 31/01/2025

None of the 15 superannuation trustees that were reviewed by ASIC had an organisation-wide scams strategy in place

Sanctions

Five Indicted in DPRK Remote IT Worker Fraud Case

By Editors | 30/01/2025

The indictment targets five individuals including two US nationals who operated “laptop farms” at their residences

AML / KYC

Australian Banks Call Out Meta for Failing to Tackle Scams

By Thisanka Siripala | 30/01/2025

CBA and Westpac said in parliamentary submissions that Meta is failing to take action to remove scam-related pages and posts on Facebook.

Crypto / Digital Assets

US DOJ Imposes $300m Penalty on Crypto Firm KuCoin

By Nithya Subramanian | 28/01/2025

KuCoin also agreed to exit the US market for at least the next two years, and to ensure two co-founders are not involved in management or operations.

AML / KYC

Malaysia Investigating Banks Over Loan Fraud Scheme

By Nithya Subramanian | 28/01/2025

MACC has frozen funds linked to 98 bank accounts, arrested 21 individuals and seized luxury assets. 5-6 banks are being investigated.

AML / KYC

UK FCA Calls on Brokers to Enhance AML Systems and Controls

By Mark Johnston | 27/01/2025

The FCA offers recommendations to improve risk assessments, KYC/CDD, governance, and transaction monitoring, among other areas.

Fintech / Regtech

ASEAN Ministers Commit to Boosting Digital Security, Cooperation

By Thisanka Siripala | 26/01/2025

Officials at the 5th ASEAN Digital Ministers’ Meeting discussed ongoing work to advance cybersecurity, anti-scam measures, cross-border data flows and AI governance.

AML / KYC

Bangladesh Enlists Big Four Auditors to Trace $17b Missing from Banks

By Mark Johnston | 26/01/2025

Bangladesh has enlisted the services of three major audit firms to conduct an asset quality review at six banks to determine where missing assets went.