Asia-Pacific

NICE Actimize and Regulation Asia have published a new white paper exploring the banking industry’s response to fraud and online scams in APAC.

The MOF also aspires to have two to three Vietnamese commercial banks classified as among the top 100 strongest banks in Asia by 2025.

The moratorium is intended to allow the regulator to focus on improving the governance of crypto exchanges that are already registered.

The report calls for a shift towards characterising Illegal fishing as a predicate crime type for money laundering, to trigger a more effective AML/CFT response.

Many non-EU benchmarks won't qualify under BMR in time for 31 December 2023, disproportionately impacting Asia exposures.

Several banks have already exhausted their quotas and are no longer accepting new loan applications. The SBV has so far refrained from granting additional quotas.

Merchant bankers also agreed to provide support. Listed companies were asked to form market-making subsidiaries. Bangladesh Bank amended its rules on calculating bank exposure limits.

Bangladesh has sufficient FX reserves for over five months of imports, providing some cushion. It has also taken measures to address its falling FX reserves.

While there has been a surge of data disclosure in Asia, the lack of a unified set of rules across the region opens the door for inconsistencies.

As countries move at different speeds towards developing their own standards, is this multiplicity an obstacle to a greener future?