Other Asia Pacific

Anti-Money Laundering

OJK to Require P2P Lenders to Report Transactions From 1 April

By Editors | 23/02/2021

The move is aimed at preventing the P2P lenders from being used for money laundering and terrorism financing, said OJK Deputy Director Munawar.

Data Privacy

BSP to Draft Data Governance Policy for Financial Institutions

By Editors | 22/02/2021

The new regulatory framework will guide banks and other financial institutions on how they use and handle electronic information that they collect from customers.

Cryptocurrency

SEC Thailand Considers New Qualifications for Retail Crypto Investors

By Sanday Chongo Kabange | 22/02/2021

The SEC is considering the introduction of screening criteria for retail crypto investors which could include age, trading experience and wealth.

Structural Regulation

Sea Group to Establish Digital Banking Operations in Indonesia

By Ranamita Chakraborty | 22/02/2021

Sea Group’s e-commerce arm Shopee plans to turn a newly acquired Indonesian bank into a digital bank. OJK is meanwhile preparing new regulations for digital banks.

PEPs & Sanctions

UK, Canada Impose Sanctions Against Myanmar Officials

By Manesh Samtani | 21/02/2021

Human Rights Watch is calling for economic sanctions, travel bans and asset freezes for leaders of Myanmar’s military, military business conglomerates and the new governing body.

Anti-Money Laundering

BSP Adopts New AML/CFT Risk Assessment Framework

By Ranamita Chakraborty | 18/02/2021

The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.

Credit Risk

Philippine President Duterte Signs ‘Bad Bank’ Bill Into Law

By Editors | 17/02/2021

The law will help cushion lenders from a build-up of bad loans due to the Covid-19 crisis, allowing them to dispose of bad assets and keep the banking system stable.

Payments & Settlements

Bangladesh to Launch New Interbank Money Market Platform

By Editors | 17/02/2021

The platform will help to promote more efficient liquidity movements among conventional banks and NBFIs, said a Bangladesh Bank official.

Fraud, Scams & Cybercrime

SEC Thailand Consults on New Rules for Auditors, Audit Firms

By Sanday Chongo Kabange | 17/02/2021

The SEC proposes new rules on the reporting of suspected fraud identified in audits, and to lower entry requirements for auditors in the capital markets.