Other Asia Pacific

Fintech / Regtech

CBM Inspects MyanmarPay Pilot Ahead of December Launch

By Nithya Subramanian | 23/10/2024

The national project aims to integrate QR payments across banks and financial service providers, with phased testing currently underway.

Capital / Liquidity

Vietnam Regulator Orders Mandatory Takeover of Two Troubled Banks

By Nithya Subramanian | 22/10/2024

The SBV ordered the transfer of Vietnam Construction Bank to Vietcombank and OceanBank to Military Commercial Bank to address bad debts.

Enforcement

OFAC Fines Beverage Company for Violating DPRK Sanctions

By Editors | 18/10/2024

Vietnam Beverage Company Limited subsidiaries sold beer and spirits to North Korea, with the payments processed through US correspondent banks.

Fintech / Regtech

UnionPay to Enable Cross-Border QR Payments for Vietnam

By Mark Johnston | 18/10/2024

Users of Vietnamese banking apps and e-wallets will be able to scan UnionPay QR codes for payments in the mainland.

Fintech / Regtech

Cambodia Working to Launch Multi-currency KHQR Codes

By Nithya Subramanian | 27/09/2024

The NBC is working to launch unified KHQR codes that can accept payments using both the riel and US dollar.

AML / KYC

Vietnam: Death Row Tycoon Faces Additional Fraud Charges

By Nithya Subramanian | 26/09/2024

Truong My Lan, who was already sentenced to death, is now on trial for a series of other money laundering and fraud charges.

Securities / Derivatives

Vietnam Eases Pre-Funding Rules for Foreign Investors

By Nithya Subramanian | 24/09/2024

Securities firms will be able to place orders for foreign institutional investors before they have deposited the required funds in their accounts.

Enforcement

Korea Dismantles Mobile Smishing Crime Organisation in Vietnam

By Editors | 24/09/2024

Seven key members of the organisation, including the ringleader, were apprehended. Three have since been repatriated to South Korea.

AML / KYC

Singapore FIU Seeks Information on Bangladeshi Conglomerate

By Nithya Subramanian | 20/09/2024

The STRO asked the BFIU to provide details on S Alam Group, a Bangladeshi conglomerate that is suspected of money laundering.