Other Asia Pacific

Sanctions

Myanmar NUG Seeks to Recover $1b Frozen at NY Fed

By Editors | 10/06/2024

Myanmar’s National Unity Government is seeking the return of funds that were frozen in the US after the 2021 military coup.

AML / KYC

Vietnam Death Row Tycoon Faces Money Laundering Charges

By Nithya Subramanian | 07/06/2024

Vietnamese police have concluded the second phase of their investigation into Truong My Lan, who was sentenced to death in April.

Enforcement

Myanmar Cracks Down on Cross-border Remittances

By Editors | 06/06/2024

“Hundi” cash transfer services and overseas property deals are being blamed for a severe depreciation of Myanmar’s currency.

AML / KYC

APAC Regulators Form New Anti-Scam Working Group

By Sanday Chongo Kabange | 04/06/2024

ASIC will lead the working group, which also comprises MAS and the FMA. The regulators will share more scam-related information and build up capacity and cooperation.

Fintech / Regtech

Bangladesh Bank Grants First Digital Banking Licence

By Editors | 03/06/2024

The licence was granted to Nagad Digital Bank, which first approached Bangladesh Bank about a digital bank licence in 2020.

AML / KYC

APAC FIUs Launches Regional Intelligence Sharing Platform

By Sanday Chongo Kabange | 03/06/2024

The new platform will allow for real-time sharing of information, case studies and technologies among Australasian and ASEAN FIUs.

Fintech / Regtech

Korean Banks & Cambodia to Jointly Develop QR Payment System

By Editors | 16/05/2024

The NBC signed MoUs with Korea’s JB Bank, Kookmin Bank and Woori Bank to develop the cross-border QR code payment system.

Market Infrastructure

Sri Lanka to Shorten Equities Settlement Cycle from 10 June

By Editors | 16/05/2024

The CSE said it has amended the clearing house rules to facilitate the shortening of the settlement cycle from T+3 to T+2.

Market Infrastructure

ASEAN+3 Ministers Approve New Rapid Financing Facility

By Editors | 06/05/2024

The Rapid Financing Facility will enable ASEAN+3 countries to access emergency financing during periods of urgent balance of payments needs.