OTHER ASIA PACIFIC

AML / KYC

Cryptos Popular Among Money Launderers in SE Asia: UN Report

By Nithya Subramanian | 18/01/2024

Tether has emerged as a preferred choice for regional cyberfraud operations due to its stability and the ease, anonymity, and low fees of its transactions.

Fintech / Regtech

Financial Sector Urged to Develop AI Governance Frameworks

By Ranamita Chakraborty | 17/01/2024

Industry experts are calling upon the financial sector to proactively prepare for GenAI regulation, considering technological advancements and ethical considerations.

AML / KYC

Vietnam: SBV Directs Banks to Strengthen AML Controls

By Sanday Chongo Kabange | 08/01/2024

The directions come after Vietnam implemented a new AML law in 2022 and “Decree 19” in April 2023 to support implementation.

Capital / Liquidity

HK, UAE Bank Associations Agree to Strengthen Industry Ties

By Nithya Subramanian | 04/01/2024

The two will work together to promote cooperation on various banking industry activities, including exploring RMB busine****ss opportunities.

ESG / Sustainability

Bangladesh Issues Guideline on Sustainability, Climate Disclosures

By Ajoy K Das | 27/12/2023

The guideline is based on IFRS S1 and S2 and applicable to all banks and finance companies.

Fintech / Regtech

Cambodia, China Launch Cross-border QR Payment Link

By Editors | 27/12/2023

Visitors from China can use UnionPay-enabled mobile apps to scan KHQR codes in Cambodia. By early 2024, Cambodian residents will be able to use their Bakong wallets in China.

Sanctions

US Sanctions Companies Across Asia for Procuring Parts for Iranian UAVs

By Editors | 20/12/2023

OFAC sanctions targets in Hong Kong, Indonesia, and Malaysia as DOJ indicts Iranian and Chinese nationals.

Securities / Derivatives

BSEC Sets New Deadline for Insider Trading Guidelines

By Ajoy K Das | 20/12/2023

The regulator had set a deadline but most listed companies failed to comply by the deadline seven months ago.

Fintech / Regtech

Japan, Cambodia Agree to Establish Cross-border QR Payment Link

By Editors | 19/12/2023

Japan’s METI and Cambodia’s central bank signed an MoC establishing a framework to cooperate on cross-border payment systems using QR Code technology.