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Fintech / Regtech
TransUnion Online Service Suspended in Hong Kong – Reports
By Editors | 03/12/2018
The HKMA and privacy commissioner have demanded security improvements after reporters were able to access top officials’ credit reports through TransUnion’s online service.
AML / KYC
Philippine Central Bank Updates Rules on KYC, AML
By Editors | 03/12/2018
The BSP will require financial institutions to collect customers’ unique ‘PhilSys’ ID numbers, and allow the use of technology to capture and record personal data.
AML / KYC
Singapore Pushes Data Analytics, Collaboration to Counter Financial Crime
By Editors | 30/11/2018
A new report by Singapore’s AML/CFT Industry Partnership identifies key weaknesses of current approaches that can be addressed with data analytics and greater industry collaboration.
AML / KYC
South Korean Banks Vulnerable to Money Laundering Risks: FSC
By Editors | 29/11/2018
Banks are most exposed to money laundering risks due to the innate characteristics of their products and services, according to an FSC review of the domestic financial industry.
AML / KYC
Overcoming the Challenges of Cross-Jurisdictional Customer Onboarding
By Claus Christensen | 28/11/2018
A digital-first approach to customer onboarding can protect companies from internal delays, customer dissatisfaction, hefty regulatory fines and reputational risk, says Claus Christensen.
AML / KYC
Japan’s MUFG in Ongoing AML Probe by New York Regulators
By Manesh Samtani | 23/11/2018
The probe has been ongoing since late 2017, where MUFG is alleged to have intentionally ignored internal controls meant to prevent it doing business with sanctioned entities.
AML / KYC
Lessons from Singapore’s KYC Utility Project
By Manesh Samtani | 21/11/2018
The Association of Banks in Singapore has published a report detailing the core design decisions, achievements, challenges and lessons from the recently-shelved KYC utility project.
AML / KYC
Singapore Toughens Penalties for AML/CTF Offences
By Manesh Samtani | 21/11/2018
Penalties are being raised for AML/CTF offences and failures to file suspicious transaction reports, while Singapore also expands on its arrangements with foreign FIUs.
AML / KYC
MAS Payment Services Bill Finalised, Tabled in Parliament
By Manesh Samtani | 19/11/2018
The Bill aims to provide a more conducive environment for innovation in payment services, while ensuring that risks across the payments value chain are mitigated.
AML / KYC
Taiwan’s Progress Impresses APG, Despite Some Shortcomings
By Manesh Samtani | 19/11/2018
The APG was reportedly impressed by Taiwan’s performance during its third round of mutual evaluations, which concluded last week.
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