Cambodia’s Prince Group said it categorically rejects Prince Group scam allegations that founder Chen Zhi built an internet scam empire, after authorities in the US and several Asian and European markets moved to seize assets. The US Justice Department last month unsealed an indictment alleging one of Asia’s largest transnational criminal organisations and forced‑labour compounds in Cambodia used for online fraud. US investigators said they had seized about USD15bn in bitcoin

Hong Kong is intensifying efforts to market itself as a global family office hub through a new Financial Services Development Council (FSDC) campaign promoting the city as “where money comes to grow”. The four-part short-form series highlights low taxes, free capital flows and a common-law system that policymakers say anchor its role as Asia’s leading financial centre and cross-border wealth-management base. The FSDC projects that Hong Kong could manage about USD2.9tr in cros

Thailand’s main business lobby has urged lawmakers to reconsider three draft bills on labour protection, clean air and factory operations, warning they could raise costs and erode competitiveness amid a sluggish economy. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said the measures, though well-intentioned, risk undermining investor confidence and should undergo a full regulatory impact assessment. Federation of Thai Industries chairman Kriengkrai

Global accounting firm BDO has resigned from its work for DW Capital Holdings, a Singapore family office sanctioned by the US and UK over alleged links to Cambodia’s Prince Group. Two BDO employees also stepped down as DW Capital’s company secretaries following the US Treasury’s action. The firm had helped incorporate DW Capital in 2018, using BDO’s Singapore office address in filings. Authorities imposed sanctions on 146 individuals and entities tied to what they described a

Hong Kong will review how audit firms use artificial intelligence, with the Accounting and Financial Reporting Council (AFRC) preparing guidance to raise awareness and support responsible deployment, Financial Secretary Paul Chan said. The initiative aligns with the government’s “twin-engine” AI strategy to make AI a core industry and upgrade traditional sectors. Global regulators are examining AI’s impact on data integrity, transparency and liability in assurance work. The A

The Singapore-based Global Finance & Technology Network (GFTN) and US payments firm Ripple have launched a partnership to train policymakers and regulators on digital assets, beginning with over 200 central bankers and supervisors from Australia, the Philippines, Thailand, Korea, Taiwan, and Indonesia. The “Decoding Digital Assets” programme spans six weeks, combining an eight-hour course with fortnightly live sessions and a tabletop simulation addressing risks such as cross-

Hong Kong police have charged 16 people in connection with the JPEX cryptocurrency scandal, including former barrister and influencer Joseph Lam Chok, on conspiracy to defraud counts. Authorities said three additional suspects – two masterminds and a core member – have fled overseas and are now the subject of Interpol notices. The probe, launched in September 2023, has led to 80 arrests and the freezing of HKD228m (USD29m) in assets, including HKD14.5m in cryptocurrencies, pr

Thailand’s central bank will now permit non-bank institutions to establish asset management joint ventures to help resolve bad loans, expanding a framework previously limited to banks, according to rules published in the Royal Gazette. Applicants have two years to file, with each JV-AMC allowed to operate for up to 15 years. Initially deployed during the pandemic, the scheme has been extended to support ongoing debt workouts. Krungthai Bank plans to apply next year and expect

Thailand will set up a new data bureau to trace suspicious fund flows tied to online gambling, scam accounts, and other grey-money channels, Finance Minister Ekniti Nitithanprapas said. The system, due by December, will integrate data across ministries, banks, and regulators under a “Connect the Dots” task force with the Bank of Thailand. Prime Minister Anutin Charnvirakul backed the move amid questions over the baht’s firmness despite weak growth. Authorities said illicit fu

Akamai’s State of the Internet report revealed that Asia-Pacific businesses encountered more than 10.5bn AI-bot triggers in just two months, as bot activity surged 300% year-on-year. The region accounted for roughly one-fifth of global traffic, second only to North America. India led with 3.2 billion triggers, followed by Japan (2.8 billion), China (1.7 billion), and Singapore (899 million). Commerce accounted for 47% of APAC AI-bot activity, with retail making up nearly thre

Bahrain has inaugurated the Bahrain International Commercial Court (BICC), a judicial platform designed in collaboration with the Singapore International Commercial Court (SICC). The initiative establishes a framework allowing appeals from BICC cases to be reviewed by an SICC International Committee composed of SICC judges and ad hoc BICC members. The Bahrain International Commercial Court will operate in English, permit foreign counsel participation, and allow the applicatio

Hong Kong FinTech Week 2025 opened with a strong policy focus on AI, tokenisation and cross-border innovation under the joint Hong Kong FinTech Week x StartmeupHK Festival. Officials from Hong Kong and the People’s Bank of China highlighted next-generation technologies, interoperable payments and digital RMB pilots. The HKMA unveiled its “FinTech 2030” pillars — data, AI, resilience and tokenisation — expanding the DART roadmap, while the SFC released circulars permitting lic

The Singapore family office regulation 2025 update shows that 3% of around 1,300 applications for tax-exempt family offices were blocked over the past three years, while incentives were clawed back from two vehicles linked to the Prince Group, sanctioned by the UK and US for large-scale scams. Authorities said police seized more than SGD150m (USD110m) in assets, including properties and accounts. Singapore has tightened scrutiny after a SGD3bn money-laundering case in 2023 th

The AIIB Hong Kong office will strengthen the bank’s access to Asia’s capital markets and sustainable finance ecosystem. The Asian Infrastructure Investment Bank said it will open an office in Hong Kong to support its expanding operations, with full backing from local authorities. The office will tap Hong Kong’s deep markets and financial expertise to support infrastructure financing, bond issuance, and investment management. The move aligns with the city’s role as a gateway

Foreign investors Hong Kong sentiment is improving, with renewed confidence in the city’s financial markets, according to Financial Secretary Paul Chan. He said overseas firms are expanding and leasing new offices, while nearly half of stock market inflows since September last year have come through Northbound funds, with the rest from Europe and the US. Chan added that multiple Middle Eastern companies will hold investment roadshows in Hong Kong next month targeting infrastr

The China Ministry of Finance debt unit 2025 has been established to tighten oversight of central and local government borrowing and reduce fiscal risks. The new department will set debt limits, manage issuance and repayment, draft regulations, and monitor implicit liabilities from local-government financing vehicles. Li Dawei has been appointed to lead the team, following a USD1.40tr debt-relief package launched in 2023. The unit will coordinate provincial quotas, swaps, and

Hong Kong crypto regulation 2025 will relax restrictions by permitting SFC-licensed crypto exchanges to connect local clients with global order books, replacing the ring-fenced trading model. The move aligns digital-asset rules with conventional securities and forms part of a three-year initiative that has introduced Bitcoin and Ether ETPs and a licensing framework for exchanges and funds. Although volumes remain below US levels, the SFC and HKMA plan to deepen liquidity by l

Vietnam digital finance 2025 is emerging as a cornerstone of the country’s growth strategy, according to officials at the Digital Financial Inclusion Conference co-hosted by the State Bank of Vietnam and IFC. Deputy Governor Pham Thanh Ha said the government aims to build a globally connected, trusted digital ecosystem supporting its financial hub ambitions. IFC’s Thomas Jacobs noted that fintech innovation could enhance SME lending and job creation. Vietnam’s initiatives inc

The HKMA e-HKD Pilot Programme 2025 has concluded its second phase, with 11 industry pilots confirming that both e-HKD and tokenised deposits can deliver cost-efficient, programmable, and resilient transactions. The Hong Kong Monetary Authority said public confidence in the banking system ensures strong trust in both digital forms. As a credit-risk-free central bank instrument, e-HKD is now viewed as best suited for wholesale applications such as tokenised asset settlement an

Malaysia takaful ta`awun framework 2025 will be issued by year-end, expanding the scope of mutual assistance in Islamic insurance, Bank Negara Malaysia announced. The upcoming policy will define shariah and regulatory standards to support financial inclusion and resilience, aligning with maqasid shariah principles. The framework stems from the Sixth Centralised Shariah Authorities Forum held on 15 October, chaired by Datuk Prof. Dr. Ashraf Md Hashim and attended by 50 delegat