Other Asia Pacific

Sanctions

Bangladesh Banks Directed to Stop Transacting With Myanmar State Banks

By Editors | 07/09/2023

Citing US sanctions, Bangladesh Bank instructed banks to stop transacting with Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank.

AML / KYC

APG Spotlights Money Laundering Associated With Tax Crimes

By Manesh Samtani | 06/09/2023

A key and “almost universal” element of money laundering associated with tax crimes is the concealment of beneficial ownership, APG says in a new report.

AML / KYC

Sri Lanka FIU Issues AML Guidelines for Legal Professionals

By Duruthu E Chandrasekera | 02/09/2023

Every legal professional is required to appoint a Compliance Officer to ensure compliance, and submit STRs to the FIU.

AML / KYC

FATF Releases Mutual Evaluation Report for Brunei

By Manesh Samtani | 30/08/2023

The report notes that Brunei has a new framework on beneficial ownership transparency, but that it is experiencing implementation challenges.

UN Report Calls for Action to Address Scam Operations in Southeast Asia

By Sanday Chongo Kabange | 30/08/2023

The report says people who are forced to work in scamming operations endure “inhumane treatment” and should be treated as victims, not criminals.

AML / KYC

Laos AML/CFT Regime Has “Significant Deficiencies” – FATF

By Manesh Samtani | 30/08/2023

Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.

Securities / Derivatives

DSE Seeks Rule Relaxations to Boost Alternative Trading Board

By Editors | 28/08/2023

The ATB was launched this January but has failed to attract investors and still has only two securities listed.

Market Infrastructure

Vietnam Joins ASEAN Payment Connectivity Initiative

By Sanday Chongo Kabange | 28/08/2023

The inclusion of the SBV has increased the Regional Payment Connectivity group from five to six ASEAN central banks.

Market Infrastructure

Vietnam to Launch New Securities Trading System in December

By Editors | 26/08/2023

The new system has already been delayed several years due to the Covid-19 pandemic and other factors. Securities firms are still behind schedule on testing.