The Latest FinCrime News from South-East Asia
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Prince TCO Founder Chen Zhi Arrested Amid 15 Billion Asset Seizure
The arrest of Chen Zhi for Prince TCO Money Laundering follows a record 15 billion dollar asset seizure by the DOJ, exposing a global web of fraud and forced labor.
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Vietnam Tightens Controls as Suspicious Reports Rise by 30 Percent
Vietnam enforces the Vietnam Anti-Money Laundering Law as suspicious transaction reports increase by 30 percent, targeting risks in the new financial centre and digital assets.
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The FATF Challenge Malaysia’s Money Laundering Enforcement Gap
Malaysia has significantly enhanced its anti-money laundering, AML, framework, yet faces substantial challenges in translating money laundering investigations into convictions, as highlighted by a recent FATF mutual evaluation. The high-profile 1MDB money laundering case, which led to approximately €8 billion in asset recovery, exposed systemic issues and necessitated major reforms, though it also strained Malaysian law enforcement capacity for other financial crime cases.
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FATF Review Shows Vietnam’s AML Progress and Persistent Weaknesses
Vietnam FATF compliance is improving, yet critical gaps in sanctions, suspicious transaction reporting and the money laundering offence continue to expose the financial system to significant risk.
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Global AML Alert: Burma Scam Centres, Laundering and U.S. Sanctions
Scam-compound money laundering in Burma has evolved into one of Southeast Asia’s most complex financial crime networks, blending forced labor, cyber-fraud, and organized laundering operations that channel billions in stolen funds through crypto platforms and shell companies while financing armed groups in conflict zones.
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Cambodia Tightens AML Controls Over Accounting Sector
Cambodia’s accounting and auditing professions are now under stronger AML scrutiny as regulators address money laundering risks hidden within professional services.
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Beximco Trade-Based Money Laundering Scandal Reveals Tk 12B Global Money Trail
Beximco faces allegations of trade based money laundering after nearly Tk 12 billion in export proceeds were routed overseas and never returned to Bangladesh.
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Singapore Police Seize $150M in Assets from Prince TCO Laundering Network
Singapore Police froze over S$150 million in assets linked to Prince TCO’s transnational laundering network, revealing how illicit funds from global scams infiltrated legitimate markets through complex layering schemes.
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Former Citibank Singapore Banker Jailed Two Years in $3 Billion Laundering Scandal
A former Citibank relationship manager was jailed two years in Singapore’s $3 billion money laundering case after forging documents and collecting cash tied to illicit crypto proceeds.
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Myanmar KK Park Scam Farm Exposed as Major Money Laundering Hub
The Myanmar KK Park scam farm reveals how large-scale cyber-fraud, human trafficking and illicit fund flows are integrated into sophisticated money-laundering networks across Southeast Asia.
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UBS ramps up Asia checks after SGD $3Bn laundering scandal
After being fined in Singapore’s S$3 billion laundering scandal, UBS is ramping up scrutiny of Asia clients through tighter source-of-wealth verification and enhanced due diligence across the region.
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Inside the Global Laundering Machine of Prince Group TCO
Prince Group TCO, a Cambodia-based criminal network, built one of the world’s most complex money laundering systems, blending online scam proceeds into legitimate investments through offshore shell companies.
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How Huione Group Laundered $4 Billion Through Crypto Loopholes
FinCEN’s 2025 ruling against Huione Group exposes a $4 billion cryptocurrency laundering network that combined unfreezable stablecoins, weak AML controls, and nested banking channels, redefining AML enforcement for the digital age.
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439 Million Recovered in Landmark Anti-Laundering Global Operation Led by Interpol
Operation HAECHI VI revealed how money laundering sustains cyber-enabled financial crime, with USD 439 million recovered across 40 countries.
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Philippines Casino Losses of Officials Expose Flood Project Money Laundering Web
Philippine casinos face investigation after former officials allegedly laundered PHP950 million from flood projects through gambling losses, testing AMLC enforcement.
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Forced Scam Labor in Southeast Asia Feeding Billions into Money Laundering
This article explores how money laundering networks in Southeast Asia enabled pig butchering scams, prompting section 311 PATRIOT Act action and global AML
Other News From South-East Asia
Prince TCO Founder Chen Zhi Arrested Amid 15 Billion Asset Seizure
The arrest of Chen Zhi for Prince TCO Money Laundering follows a record 15 billion dollar asset seizure by the DOJ, exposing a global web of fraud and forced labor.
Vietnam Tightens Controls as Suspicious Reports Rise by 30 Percent
Vietnam enforces the Vietnam Anti-Money Laundering Law as suspicious transaction reports increase by 30 percent, targeting risks in the new financial centre and digital assets.
The FATF Challenge Malaysia’s Money Laundering Enforcement Gap
Malaysia has significantly enhanced its anti-money laundering, AML, framework, yet faces substantial challenges in translating money laundering investigations into convictions, as highlighted by a recent FATF mutual evaluation. The high-profile 1MDB money laundering case, which led to approximately €8 billion in asset recovery, exposed systemic issues and necessitated major reforms, though it also strained Malaysian law enforcement capacity for other financial crime cases.