AML / KYC

AML / KYC

NZ DIA Issues Formal Warning to NZForex for AML Failures

By Thisanka Siripala | 25/03/2025

3,182 transactions over six years were not reported to the FIU due to a system issue that was identified and self-reported by NZForex.

AML / KYC

FinCEN Issues Interim Final Rule on Beneficial Ownership Reporting

By Manesh Samtani | 24/03/2025

Only entities formed under the law of a foreign country and that have registered to do business in the US will have to report their BOI to FinCEN.

AML / KYC

HK Considers Allowing Banks to Freeze Scam-Linked Accounts

By Sanday Chongo Kabange | 24/03/2025

HKPF and HKMA are in talks with banks on a mechanism to freeze accounts linked to fraudulent activities.

AML / KYC

SC Malaysia Outlines 2025 Plans to Strengthen the Capital Market

By Nithya Subramanian | 24/03/2025

The SC will develop its next capital market masterplan, advance ACMF initiatives, and prepare for FATF and CG Watch assessments.

Fintech / Regtech

IOSCO Launches New Portal to Combat Investment Fraud

By Mark Johnston | 24/03/2025

I-SCAN aggregates alerts from over 150 financial regulators worldwide, allowing investors to check whether a company or investment has been flagged as unlicensed or fraudulent.

AML / KYC

Australia’s Tipping-Off Reforms Set to Bolster AML Information Sharing

By Nathan Lynch | 24/03/2025

Australia’s new “tipping off” laws will give banks and other reporting entities far more flexibility in the way they handle sensitive information, writes Nathan Lynch.

Big Picture

Hong Kong Trust Industry Facing Regulatory Challenges

By Mark Johnston | 23/03/2025

HKTA and KPMG published a report shedding light on the state of  Hong Kong’s trust industry, including mounting compliance costs and regulatory challenges.

AML / KYC

AUSTRAC Issues Guidance on Tipping Off Offence Effective 31 March

By Thisanka Siripala | 21/03/2025

From 31 March 2025, disclosing certain information that could prejudice an investigation will become a criminal offence.

AML / KYC

SC Malaysia Charges Former CIMB Banker with Securities Fraud

By Nithya Subramanian | 20/03/2025

The SC said the former investment banker deceived three investors into depositing money for fictitious bond investments.