Philippines

AML / KYC

Philippine Regulator Mulls Interest Rate Cap

By Samuel Riding | 24/10/2016

Informal lenders must define “reasonable” interest rates for consumers

AML / KYC

Philippines Proposes New Money Service Rules

By Samuel Riding | 26/09/2016

Draft rules require ‘money service businesses’ to register with BSP; raises concern about hindering remittance flows

AML / KYC

BSP Ordered to Return $15mn to Bangladesh

By Samuel Riding | 20/09/2016

Bangladesh seeking to recover another USD2.7 million frozen by Philippines’ casino regulator.

AML / KYC

HKMA Warns of Excessive Due Diligence

By Samuel Riding | 09/09/2016

Authority says some KYC/AML measures ‘disproportionate’; looking at KYC utilities to ease regulatory burden.

AML / KYC

Ease AML/CTF Regulations for Low-value Transactions: Brookings

By Samuel Riding | 08/09/2016

Influential think-tank suggests some regulations could be eased to support financial inclusion.

SWIFT’s Sanctions Screening Service Exceeds 500 Customers

By Samuel Riding | 08/09/2016

Hong Kong, 7 September 2016 – SWIFT announces another important milestone for its hosted compliance services – the 500th customer […]

AML / KYC

Philippines Considering Repeal of Bank Secrecy Laws

By Samuel Riding | 07/09/2016

Philippines and Lebanon the only countries which still have such laws in place.

Market Infrastructure

Philippines to Have Repo Market by End-2016, Early 2017

By Samuel Riding | 06/09/2016

Central bank governor says programme will open the door to allowing short selling.

AML / KYC

Banks’ Exit from Emerging Markets Hurting AML, CTF Efforts – FSB

By Samuel Riding | 31/08/2016

Report to G20 says funds are being driven underground; cites failures to initiate derivative market reform in China and Korea.