Managers of Wealth Asia Pacific

Calls mount for tighter rules on NZ's foreign trusts after Malta scandal links

Green finance spokeswoman Julie Anne Genter has called for tighter rules around foreign trusts.

RCBC lawyers say bank a ‘victim’ of money laundering scam

In a statement sent to the Inquirer, RCBC’s external counsel said the country’s fifth largest financial institution could validly invoke the defense that it exercised due diligence in the supervision of a rogue employee and “did not cont

Bank of Thailand to loosen forex regulations

The new regulations will take effect from April 18, the central bank said in a release.

Australia seeks feedback on law to implement new tax treaty with Germany

The Australian government on April 1 launched a consultation on draft legislation that would give a tax treaty signed with Germany the force of law in Australia.

China’s elite—including Xi Jinping—are linked to offshore deals that hid millions of dollars

The China investigation is part of a leak called “the Panama Papers,” which reveal the hidden financial dealings of over 100 politicians and public officials around the world.

1MDB Probe Shows Malaysian Leader Najib Spent Millions on Luxury Goods

Accounts of prime minister paid out $15 million for clothes, jewelry and a car

US asks Deutsche, JPMorgan to give details on 1MDB dealings: Sources

They said JPMorgan and Deutsche were not the target of the investigations at this stage, but had only been asked to provide details.

Malaysian lawyer 'probed for sedition'

Malaysia's attorney-general, meanwhile, has shut down an investigation into money deposited into the prime minister's account by an unnamed donor from the Middle East.

Bandhan and IDFC Bank's bumpy journey since getting banking licence

In the US, setting up new banks was as easy as opening restaurants.

Pakistan regulator launches modaraba overhaul

The SECP said it had initiated enforcement actions against modarabas with unsatisfactory track records.

UBS Said to Mull Relinquishing Its South Korea Banking License

The Zurich-based lender informed regulators of the plan, said the person said, who asked not to be identified because the discussion was private.

China's central bank ets up industry group for Internet finance

China's central bank said Friday that firms involved in Internet finance had set up an industry association, as authorities try to get a handle on the rapidly growing but weakly regulated sector.

Advocacy group supports relaxation of Bank Secrecy Law provisions

The group pointed out that criminals will be put on notice that they cannot use the bank secrecy law to hide the movement of ill-gotten wealth

China Approves 7 new IPOs

China's securities commission said on Friday that IPO applications by seven companies had passed its review.

Sahara averts foreclosure auction of US hotel properties

Sources said Sahara has now been given time till June by Reuben Brothers.

INDIA: Cleaning up

These funds were channelled through brass-plate companies set up in Mauritius

AP Investigation: How a con man used China to make millions

Criminals around the world have discovered that a good way to liberate their dirty money is to send it to China

Government onto Indonesian assets hidden abroad

The government claims to have obtained data on bank accounts of Indonesian citizens trying to hide their funds abroad.

Malaysia 1MDB Scandal: US Investigators Probing If Goldman Sachs Misled Bondholders

American investigators probing the Malaysian state-run fund 1Malaysia Development Bhd are looking into whether Goldman Sachs Group Inc.

BSP: Bank Secrecy Law May Be Eased

He said the Philippines is also one of only two countries where tax evasion is not a predicate crime to money laundering.

Legal, Regulation & Compliance