Credit Risk

Myanmar Launches First Credit Bureau Following Soft Launch

08/01/2021

The bureau is a joint venture between MB Investment, a company formed by Myanmar banks, and a subsidiary of Singapore-listed Credit Bureau Asia.

Anti-Money Laundering

HK Customs Flags Money Laundering Risk from Money Changers

08/01/2021

Amid the pandemic, some criminal actors have turned to licensed money changers, who were more easily lured into criminal activities as their businesses suffer.

Climate Risk

China Issues Final Rules Governing National Carbon Market

08/01/2021

Provincial level authorities will be able to set carbon emissions caps for the first time, and shall be charged with verifying greenhouse gas emissions reports.

Supervision & Enforcement

Taiwan Raises Whistleblower Rewards for Serious Crime Tenfold

07/01/2021

Whistleblower rewards are increased tenfold for the reporting of serious illegal financial activities and fivefold for minor illegal financial activities.

Liquidity Risk

BOT Relaxes Foreign Exchange Rules for Non-resident Firms

07/01/2021

The central bank said the relaxations will allow non-financial companies greater flexibility to manage currency risks and liquidity related to the Thai baht.

Emerging Prudential Risks

China Revises Upper Limit on Overseas Lending, Borrowing

07/01/2021

The PBOC and SAFE have adjusted the upper limits on overseas lending and borrowing by domestic enterprises, as the RMB trades at its highest levels since mid 2018.

Operational Risk

China Implements New Bank Performance Evaluation Mechanism

07/01/2021

State-owned banks based on their contributions to the economy, high quality development, risk management, and operational efficiency.

KYC & CDD

PBOC Penalises Tenpay, Three Others for Violations – Report

07/01/2021

Tencent’s payment platform Tenpay was fined for providing payment services for illegal and false transactions, and processing QR code payments without a licence.

Fraud, Scams & Cybercrime

Chinese Court Orders Ratings Firm to Compensate Bond Creditors

07/01/2021

The court held Dagong Global Credit Rating, its controller, underwriter, accounting firm, and law firm jointly responsible for defaults by a construction company three years ago.