Other Asia Pacific

Anti-Money Laundering

BSP Probes Ten Banks Linked to Westpac AML Violations

By Editors | 19/12/2019

The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.

Cryptocurrency

Cryptoasset Risk in Misalignment with Investor Profiles: OECD

By Editors | 18/12/2019

New OECD research has found a strong likelihood of misalignment between the risk profiles of some financial consumers and the riskiness of cryptoassets.

Trade Based Money Laundering

Bangladesh Issues Guidelines on Trade-based Money Laundering

By Editors | 17/12/2019

The guidelines require banks to develop written policies and procedures to assess and mitigate money laundering risks arising from their trade-related customers and activities.

Structural Regulation

Asian Benchmark Administrators Face ‘Perfect Storm’ in 2021

By Manesh Samtani | 17/12/2019

The BMR transition period is now scheduled to end alongside LIBOR’s discontinuation, creating a “perfect storm” of regulatory change for benchmark administrators and users at end-2021.

Clearing & Post-Trade

LSEG to Provide Post Trade Technology for Philippine Bourse

By Editors | 12/12/2019

The Securities Clearing Corporation of the Philippines will use LSEG technology to enhance its clearing, settlement, risk and collateral management capabilities.

Fraud, Scams & Cybercrime

Sri Lanka to Introduce Legislation to Regulate Moneylenders

By Editors | 11/12/2019

Moneylenders do not currently fall under any licensing or regulatory regime in Sri Lanka unless they accept deposits.

Cloud & Infrastructure

Bank of Papua New Guinea Launches Regulatory Sandbox

By Editors | 11/12/2019

Local and foreign financial institutions and fintech firms are welcome to apply to test new products and services that could enhance financial inclusion and the provision of financial services.

Data Privacy

Data Privacy in Asia Pacific: A Fragmented Landscape

By Sarah Pearce | 10/12/2019

Asia’s data privacy frameworks remain highly fragmented. But companies cannot be complacent about more onerous laws in other jurisdictions, says Sarah Pearce at international law firm Paul Hastings.

Climate Risk

ASEAN Regulators Are Shoring Up Climate Safeguards: WWF

By Manesh Samtani | 10/12/2019

In a new report, WWF Singapore says ASEAN financial regulators and banking associations are increasing their expectations on banks to assess and mitigate climate and environmental risk.