Other Asia Pacific

Enforcement

OFAC Fines Beverage Company for Violating DPRK Sanctions

By Editors | 18/10/2024

Vietnam Beverage Company Limited subsidiaries sold beer and spirits to North Korea, with the payments processed through US correspondent banks.

Fintech / Regtech

UnionPay to Enable Cross-Border QR Payments for Vietnam

By Mark Johnston | 18/10/2024

Users of Vietnamese banking apps and e-wallets will be able to scan UnionPay QR codes for payments in the mainland.

Fintech / Regtech

Cambodia Working to Launch Multi-currency KHQR Codes

By Nithya Subramanian | 27/09/2024

The NBC is working to launch unified KHQR codes that can accept payments using both the riel and US dollar.

AML / KYC

Vietnam: Death Row Tycoon Faces Additional Fraud Charges

By Nithya Subramanian | 26/09/2024

Truong My Lan, who was already sentenced to death, is now on trial for a series of other money laundering and fraud charges.

Securities / Derivatives

Vietnam Eases Pre-Funding Rules for Foreign Investors

By Nithya Subramanian | 24/09/2024

Securities firms will be able to place orders for foreign institutional investors before they have deposited the required funds in their accounts.

Enforcement

Korea Dismantles Mobile Smishing Crime Organisation in Vietnam

By Editors | 24/09/2024

Seven key members of the organisation, including the ringleader, were apprehended. Three have since been repatriated to South Korea.

AML / KYC

Singapore FIU Seeks Information on Bangladeshi Conglomerate

By Nithya Subramanian | 20/09/2024

The STRO asked the BFIU to provide details on S Alam Group, a Bangladeshi conglomerate that is suspected of money laundering.

Capital / Liquidity

Bangladesh Bank to Guarantee Loans Extended to Distressed Banks

By Ajoy K Das | 20/09/2024

Stronger banks will provide loans to five distressed banks, protected by guarantees from the central bank.

Fintech / Regtech

Malaysia, Cambodia Launch Cross-border QR Payment Linkage

By Nithya Subramanian | 20/09/2024

The first phase will allow Cambodian users to make instant retail payments in Malaysia by scanning DuitNow QR codes.