AML / KYC

Taiwan FSC Fines HK Company for Faulty Beneficiary Disclosure

28/05/2021

HK-based Capital Target Ltd was unable to verify the source of funds used to buy a 24% stake in Korean conglomerate Jih Sun Financial Holding in 2009.

AML / KYC

AFP, AUSTRAC Probe Payments via Adult Content Site – Report

28/05/2021

Banks and regulators are unable to establish who receives the payments via UK-based platform OnlyFans, which acts as an intermediary for content makers.

Uncategorised

FSC Korea to Promote Greater Use of Analytics in Financial Sector

27/05/2021

The FSC will introduce new measures later this year to increase the use of anonymised data that can be aggregated to perform data analytics.

AML / KYC

RBNZ Takes Court Action Against TSB Bank for AML Failures

27/05/2021

The court action and pecuniary penalties sought are a result of TSB Bank not responding sufficiently to the RBNZ’s initial formal warning in 2016.

Fintech / Regtech

Regulators Order Tencent to Establish Financial Holding Company

27/05/2021

Like Ant Group, Tencent will have to submit a reorganisation plan to regulators specifying which businesses the new financial holding company will absorb.

Fintech / Regtech

WhatsApp Files Lawsuit Against India Over Traceability Rules

27/05/2021

The new laws give the Indian government greater power to monitor online activity and require data to be stored in a “traceable” database.

Fintech / Regtech

MAS Partners with Mojaloop Foundation on Financial Inclusion

27/05/2021

The partnership will bring together MAS’ policy development perspectives and Mojaloop’s digital payments capability to advance financial inclusion.

Big Picture

NGFS Publishes Preliminary Findings on Climate-related Data Gaps

26/05/2021

The availability of reliable climate-related data requires swift progress on disclosures, global taxonomy, and transparent and quality-assured metrics, the NGFS says.

Fintech / Regtech

Malaysia Launches Islamic Fintech Accelerator Programme

26/05/2021

The FIKRA Islamic Fintech Accelerator Programme seeks to promote an Islamic fintech innovation ecosystem in Malaysia’s capital market.