AML / KYC

AML / KYC

Singapore Bolsters Financial Crime Defences Ahead of FATF Review

By Manesh Samtani | 18/06/2025

Singapore is ramping up AML efforts amid rising fraud and scams, aiming for improved effectiveness ratings in the FATF assessment.

AML / KYC

Thailand Announces Five-Year Tax Exemption for Crypto Trading

By Sanday Chongo Kabange | 18/06/2025

Thailand waives capital gains and VAT on crypto transactions for five years to “stimulate the digital asset economy”.

Fintech / Regtech

Thailand to Invest in AI-Powered Anti-Scam Data System

By Nithya Subramanian | 18/06/2025

The upgraded system will be operational in 2026. Meanwhile, recent measures to strengthen scam prevention have reduced losses, said Prasert Jantararuangtong.

AML / KYC

HK and SG Police Dismantle Cross-Border Scam Syndicate

By Sanday Chongo Kabange | 17/06/2025

The joint operation resulted in 8 arrests and seizures of HKD 18 million in SIM cards used for phone scams.

AML / KYC

JBA Implements Ban on Cash Storage in Safe Deposit Boxes

By Thisanka Siripala | 17/06/2025

Revised JBA guidance will prohibit the storage of cash in safe deposit boxes, in line with the FSA’s revised supervisory guidelines.

Enforcement

SFC Imposes Restrictions on GA (Int’l) Capital Management

By Sanday Chongo Kabange | 17/06/2025

GCML said the restriction notice has no effect on its global operations, and that the matter stems from a “third-party client violation” rather than misconduct by the firm.

AML / KYC

Vietnam Revises AML Law in Bid to Exit FATF Grey List

By Sanday Chongo Kabange | 16/06/2025

The SBV has tightened its AML rules to meet global standards and boost financial sector credibility as it pushes to exit FATF grey list.

AML / KYC

FATF Approves New Transparency Standards for Cross-Border Payments

By Manesh Samtani | 16/06/2025

The plenary also endorsed updated financial inclusion guidance to address the issue of ‘de-risking’ and agreed to publish several other reports.

AML / KYC

Singapore’s New Transparency Law for Companies, LLPs Takes Effect

By Nithya Subramanian | 16/06/2025

According to the latest law, all newly incorporated companies and LLPs will be required to disclose their ownership and control details.