Fintech / Regtech

AML / KYC

HKMA Issues Guidance on Using AI to Enhance AML Monitoring

By Sanday Chongo Kabange | 10/09/2024

Banks will have to assess the feasibility of adopting AI in their ML/TF monitoring systems and then formulate and submit an implementation plan to HKMA by end March 2025.

ESG / Sustainability

BIS, NGFS Developing Enhanced Climate Risk Data Platform

By Editors | 10/09/2024

The NGFS Data Directory 2.0 aims to enhance how the financial sector accesses and utilises climate risk data.

ESG / Sustainability

Bursa Malaysia, MyDIGITAL to Drive ESG via Digital Solutions

By Nithya Subramanian | 10/09/2024

The collaboration will support companies in leveraging digitalisation to improve operational efficiency and overall sustainability performance.

Fintech / Regtech

Alibaba to Add WeChat Pay Option to E-Commerce Platforms

By Editors | 09/09/2024

The decision was announced less than a week after the market regulator declared an end to its antitrust review of Alibaba.

Fintech / Regtech

US, EU, UK Sign Legally-binding International Treaty on AI

By Manesh Samtani | 08/09/2024

The international treaty aims to promote innovation while protecting human rights, democracy and the rule of law.

Securities / Derivatives

TAIFEX Amends Information Security Rules for Futures Brokers

By Editors | 08/09/2024

Among the new requirements, futures brokers must prohibit staff from storing confidential business information on personal mobile devices.

Fintech / Regtech

Korea to Ease Entry Rules for Corporate Credit Rating Industry

By Editors | 06/09/2024

The FSC is abolishing the requirement for FIs to hold at least a 50% stake in companies for them to provide corporate credit ratings.

Fintech / Regtech

UK Proposes to Lower Limit for APP Fraud Reimbursements

By Nithya Subramanian | 06/09/2024

The PSR has proposed to revise its December 2023 plan to reduce the reimbursement limit from GBP 415,000 to GBP 85,000.

AML / KYC

AUSTRAC Issues New Guidance on Outsourcing AML Functions

By Editors | 06/09/2024

Among other things, the guidance covers due diligence of service providers, outsourcing agreements, management and oversight, and performance monitoring.