Other Asia Pacific

AML / KYC

The Case for Change: Leveraging GenAI in Anti-Financial Crime

By Bradley Maclean | 07/08/2024

GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.

Sanctions

Myanmar Punishes Exporters for Failure to Convert FX to Kyat

By Editors | 05/08/2024

Over 100 companies have had their export licences revoked. Their owners face potential jail time and asset confiscation.

Enforcement

Singapore Recovers $40 Million in Email Scam Bust

By Nithya Subramanian | 05/08/2024

Collaboration between the SPF, Timor-Leste authorities and INTERPOL led to the largest business email compromise scam recovery.

Securities / Derivatives

PASLA Publishes APAC Securities Lending Market Guide 2024

By Editors | 26/07/2024

The guide provides information on securities finance markets across APAC, including recommendations for promoting more openness, transparency and efficiency.

Fintech / Regtech

Cambodia to Allow Tourists to Use Bakong Payment App

By Nithya Subramanian | 23/07/2024

Tourists visiting Cambodia will be able to download the Bakong app and use a credit card from their home country to top up the wallet.

AML / KYC

Thai Banks Urged to Tighten Scrutiny of Myanmar Transactions

By Editors | 20/07/2024

Thai Foreign Minister told parliament that the government will meet with banks regarding their due diligence processes for Myanmar transactions.

Vietnam Banks Can Resume Investment-linked Insurance Business

By Nithya Subramanian | 17/07/2024

The decision allows banks to resume selling investment-link insurance products, after the activity was prohibited in March.

ESG / Sustainability

ASIFMA Report Offers APAC Guidance on ISSB Adoption

By Manesh Samtani | 15/07/2024

The report says APAC jurisdictions should adopt IFRS S1 and IFRS S2 simultaneously, to prevent the risk of a “country or market discount”.

Sanctions

Expert Calls for International Sanctions on Myanmar Central Bank

By Editors | 15/07/2024

Sean Turnell says sanctioning the CBM would effectively embargo Myanmar’s entire banking system and limit the SAC’s ability to oppress the Myanmar people.