AML / KYC

AML / KYC

AUSTRAC to Shift Focus to Outcomes Rather Than Compliance

By Thisanka Siripala | 25/06/2025

AUSTRAC will shift its regulatory focus to outcomes and harms, targeting industry sectors where risks are poorly managed, said CEO Brendan Thomas.

AML / KYC

FATF Updates AML/CFT Guidance on Financial Inclusion

By Manesh Samtani | 25/06/2025

The guidance encourages regulators and FIs to balance AML/CFT/CPF measures with access to financial services, particularly for vulnerable populations.

AML / KYC

New Academic Programmes Emerge to Address Financial Crime Skills Gap

By Manesh Samtani | 24/06/2025

A ‘generational crisis’ in financial crime has prompted the introduction of new academic programmes that blend theory with real-world investigative skills.

AML / KYC

New Academic Programmes Emerge to Address Financial Crime Skills Gap

By Manesh Samtani | 24/06/2025

A ‘generational crisis’ in financial crime has prompted the introduction of new academic programmes that blend theory with real-world investigative skills.

AML / KYC

Japan to Require Banks to Use IC Chips for Customer Verification

By Thisanka Siripala | 24/06/2025

Authorities aim to eliminate image-based identity checks in favour of tamper-resistant IC chip scans to prevent fraud.

Enforcement

South Korean Police Probe Embezzlement Case at Toss Bank

By Sanday Chongo Kabange | 24/06/2025

The embezzlement incident at Toss Bank involved KRW 2 billion. The investigation will be complicated as the suspect “recently passed away”.

AML / KYC

US Fed Terminates 2015 Action Against China Construction Bank

By Editors | 23/06/2025

The Federal Reserve terminated a 2015 written agreement with China Construction Bank after improvements in AML compliance.

AML / KYC

SEBI Proposes Changes to Accredited Investor Framework

By Nithya Subramanian | 23/06/2025

SEBI proposes allowing KRAs to act as accreditation bodies and streamlining verification processes for sophisticated investors in alternative investment products.

AML / KYC

Australian Sanctions Office Issues Statement to Clarify its Role

By Thisanka Siripala | 23/06/2025

AUSTRAC’s remit moving forward will include ensuring regulated entities have policies in place to comply with targeted financial sanctions obligations.