The Deloitte Asia Pacific Centre for Regulatory Strategy is pleased to share with you the key regulatory updates from our region for Q3 2023. Regulatory developments strengthening AML/CFT controls and practices to detect and mitigate risks were at the forefront. Controls have been tightened across Asia Pacific including Philippines, Singapore and Vietnam. In Singapore, the Monetary Authority of Singapore (MAS) collaborated with the Commercial Affairs Department to investigate a criminal and money laundering syndicate that led to the seizure/freezing of SGD$2.8 billion worth of assets.Regulators have also issued additional guidance on risk assessment and reporting, proliferation financing, misuse of legal persons and arrangements, and digital assets.Digital Finance and Technology is another topic that is top of mind for regulators. Australia released a report with findings from a joint research project which explored the potential for a central bank digital currency (CBDC). Whilst CBDCs can facilitate ‘smarter payments’, legal and operational issues would need to be addressed. In Hong Kong, theHong Kong Monetary Authority (HKMA) unveiled a ‘FinTech Promotion RoadMap’, with the goal of promoting collaboration and building a sustainable fintech ecosystem.