Asia Pacific Group says authorities have not yet grasped cross-border AML risks, but praises use of intelligence to produce suspicious transaction reports.
Report suggests private sector debt has risen in 12 of 14 Asian countries; FSB addressing risks from housing market, rising household debt in Asia.
Haruhiko Kuroda says firms in Asia need to diversify their sources of funding to protect against market shocks as ASEAN initiatives increase.
The wave of financial regulation about to wash over Europe and North America could eventually overwhelm Asian institutions.
New technology to include integrated surveillance including early-warning system, data analysis and online regulatory reporting for financial institutions.
Bankruptcy will be a last resort; Vietnamese banking sector has bad debts of 8.6% of total credit, 17.2% NPL ratio; Moody's outlook 'positive'
A Bangladesh Institute of Bank Management survey has found that bank officials are directly involved in 67 per cent of online banking forgeries in collusion with IT firms.
The Bankers Association of the Philippines has launched a digitisation initiative to facilitate customer identity management and verification through blockchain technology.
Group led initially by AUSTRAC and Philippines Anti-Money Laundering Council aims to disrupt sources of funding, movement and use of funds.
Summit to include ‘codeathon’, with 80 participants demonstrating new digital tools and ideas to address the challenge of terrorist financing.