Managers of Wealth Asia Pacific

Huge scam in YES Bank for many years, says Enforcement Directorate

Rana Kapoor's wife also charged with abetting crime

COVID-19 – Global Implications for Anti-Money Laundering and Counter-Terrorist Financing

With criminals trying to take advantage of pandemic fears, regulators and national governments have warned against an increase in criminal scams and laundering opportunities often associated with crises like the current pandemic.

Abe, Kuroda vow joint action to keep businesses afloat

Then came the joint statement pledging BoJ co-operation with the government after a meeting between Governor Haruhiko Kuroda and Finance Minister Taro Aso.

ERS withdrawals surpass $10bn

The average payment made over the period since inception is $7510.

U.S. Sanctions 33 China Entities

The sanctions will prohibit «export, re-export, or in-country transfer of items» subject to export regulations without authorization from the Department of Commerce.

India’s Money Laundering Agency Finds Proceeds in JPMorgan Case

The Amrapali investigation emerged after a series of petitions by home buyers frustrated over unfinished housing projects.

World Bank calls on Indonesia to take measures to curb debt

The World Bank is among the agencies that Indonesia is exploring as possible funding options, others include the Asian Development Bank and Asian Infrastructure Investment Bank.

FASEA extension en route

Senator Hume saw it differently though, and called on Jones to "stop playing games", and allow the FASEA extension bill to pass as non-controversial business in the next sitting.

Banks target Luckin Coffee ex-billionaire's family assets to recoup $709m in losses

Lu said in a statement on Wednesday that he's "deeply disappointed" Nasdaq is moving to delist the shares before Luckin releases final results of an internal probe into its accounting.

Vietnam finance ministry forms working group for policies on digital currencies

Having a regulation on digital currencies and virtual assets can help bring financial services to people without access to a bank.

Cambodia regulator eases derivatives rules for brokers, report says

The report did not specify the exact changes, and spokespersons for the SECC did not immediately respond to questions from Asia Asset Management.

Regulators to boost cross-border private fund flows

Sector posted steady growth during the first quarter of 2020 despite Covid-19

UK's CISI partners with Philippines in effort to combat money laundering

All individuals who work with money, directly or indirectly, are required to evidence their compliance with AML/CTF training and assessment annually.

Westpac dumps EY for risk review

The bank used the opportunity to trumpet the appointment of 25-year Westpac veteran Les Vance as the bank’s new group executive financial crime, compliance and conduct.

Stepson of Malaysian ex-PM Najib could testify against him in 1MDB trial -prosecutors

Riza’s lawyer did not immediately respond to a request for comment.

Shadow lenders get India central bank’s exceptional lifeline

The move follows a lukewarm response to previous attempts to steady these lenders, which have been reeling under a cash crunch for almost two years.

New requirements to lodge information on Singapore's register of registrable controllers deferred to July 2020: ACRA

July 2020: RORC now required to be lodged with ACRA with limited access rights

SFC Fines Southwest Securities for AML/CFT Failures

In some cases where third party deposits were identified by SSBL, the clients' relationship with the third party depositors (eg, friend) and the reason for these deposits (eg, busy at work) provided by the clients failed to explain the rationale for

Competition Commission Signs Memorandum of Understanding with Securities and Futures Commission to Strengthen Cooperation

This is the CC's first MoU signed with a financial regulator, and represents a milestone in its endeavours to adopt a joined-up approach with relevant sector regulators in promoting competition and combating anticompetitive practices.

Malaysia’s EPF okays 1.66 billion ringgit of early withdrawals by cash-strapped members

The EPF has approved early withdrawals by 3.51 million or 46.2% of its members under the i-Lestari scheme.

Legal, Regulation & Compliance