Philippines

Anti-Money Laundering

BSP Imposes $21mn Fine Following AML Failures

By Editors | 08/08/2016

Largest-ever fine imposed after USD 81M Bangladesh Bank heist on RCBC.

Fraud, Scams & Cybercrime

Bangladesh Expects to Recoup All USD81mn from NY Fed Heist

By Samuel Riding | 27/07/2016

Central bank chief says RCBC likely to be held liable for theft, repay money.

Anti-Money Laundering

Philippines Set to Close Casino Money Laundering Loophole

By Samuel Riding | 06/07/2016

Bill proposes to amend 2001 Anti-Money Laundering Act which excluded casino operators, junkets.

Fraud, Scams & Cybercrime

Philippines Regulator Seeks Prosecution Powers

By Samuel Riding | 10/06/2016

Securities and Exchange Commission also seeking ability to freeze accounts.

Anti-Money Laundering

Macau Tightens AML Rules

By Samuel Riding | 07/06/2016

Casinos must keep daily records and hire compliance officers.

Cryptocurrency

Philippines Moots ‘Hard Regulations’ for Bitcoin

By Samuel Riding | 04/06/2016

Central bank official says exchanges currently seen as equivalent to remittance providers.

Structural Regulation

Southeast Asia – The Price of Not Keeping up with Global Regulations

By Peter Guy | 16/05/2016

Capital markets falling behind in infrastructure, technology and regulations face being marginalised by China.

Structural Regulation

Philippines to Revamp Corporate Governance Code

By Samuel Riding | 13/05/2016

World Bank’s investment arm to develop governance code, regulatory framework and train regulators in effort to attract more foreign investment.

Structural Regulation

ARFP Faces Tax, Political Challenges

By Editors | 10/05/2016

Singapore’s absence from passport can support progress on cross-border tax issues.