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AML / KYC
AML / KYC
Philippine SEC Outlines Reforms for Staying Off FATF Grey List
By Thisanka Siripala | 05/03/2025
A new digital registry will modernise how the SEC manages beneficial ownership data. The regulator will also tighten rules governing crypto firms.
Enforcement
Singapore Considers Punishing Scam Offences With Caning
By Nithya Subramanian | 04/03/2025
The government will expand its efforts against money mule activities in 2025 and consider prescribing caning as a punishment for certain scam-related offences.
AML / KYC
FATF Seeking Input on Techniques for Mitigating PF Risk
By Manesh Samtani | 04/03/2025
The FATF aims to publish a report providing a comprehensive understanding of complex sanctions evasion schemes relevant to proliferation financing.
AML / KYC
Singapore Concludes Review of Incident Involving Exposed NRIC Numbers
By Nithya Subramanian | 04/03/2025
A review panel found shortcomings by ACRA and MDDI and offered recommendations to prevent similar incidents from recurring.
AML / KYC
US Treasury Suspends Enforcement of Corporate Transparency Act
By Manesh Samtani | 04/03/2025
The BOI reporting rule will be amended to “narrow the scope of the rule to foreign reporting companies only”. US citizens and companies won’t have to file BOI reports.
Enforcement
RBI Imposes Penalty on HSBC for Regulatory Violations
By Nithya Subramanian | 04/03/2025
The RBI said HSBC violated KYC norms, failed to report unhedged foreign currency exposures, and opened savings deposit accounts for ineligible entities.
AML / KYC
SC Malaysia and MCMC to Strengthen Anti-Scam Coordination
By Nithya Subramanian | 04/03/2025
The partnership will enhance cooperation by leveraging AI and enforcing measures more swiftly to protect investors and consumers.
AML / KYC
ASIC Intensifies Enforcement Efforts, Investment Scam Crackdown
By Thisanka Siripala | 03/03/2025
ASIC shut down more than 10,000 fraudulent websites since mid-2023 and launched 109 new investigations in H2 2024.
AML / KYC
FATF Proposes Updates to Financial Inclusion Guidance
By Nithya Subramanian | 28/02/2025
The FATF is seeking feedback on balancing financial inclusion with AML/CFT compliance, particularly in digital finance transactions.
AML / KYC
US ‘Gold Visa’ Proposal Appealing to Criminals: Transparency Int’l
By Nithya Subramanian | 28/02/2025
EU officials have previously warned that golden visa programmes could be used for money laundering, tax evasion and corruption.
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