Fintech / Regtech

Fintech / Regtech

Korea FSS Urges Stronger Controls After Lotte Card Data Breach

By Sanday Chongo Kabange | 04/09/2025

The FSS has called for tighter internal safeguards and expedited consumer protection following a data leak at Lotte Card that went undetected for 17 days.

Enforcement

Singapore Invokes OCHA in First Directive to Meta over Facebook Scam Ads

By Nithya Subramanian | 04/09/2025

The move marks Singapore’s first use of new online harm powers, targeting a surge in scams impersonating senior officials that cost victims SGD 126 million in H1 2025.

Fintech / Regtech

Philippine Bankers Association Developing New Scam Blocking Protocol

By Sanday Chongo Kabange | 04/09/2025

The new protocol will incorporate AI and big data analytics to facilitate real-time alerts and fund blocking once scam-related activity is reported.

Securities / Derivatives

Korea Waives Volume Limits on Nextrade After Rapid Growth

By Manesh Samtani | 04/09/2025

The FSC is easing stock-specific volume limits for the new venue to prevent widespread trading halts and plans a broader market review.

Fintech / Regtech

Kakao Risks Losing Control of Kakao Bank Over Regulatory Breach

By Sanday Chongo Kabange | 04/09/2025

A potential criminal penalty could force the tech giant to sell down its majority stake in its digital bank due to shareholder eligibility rules.

Crypto / Digital Assets

South Korea's Kbank to Develop Stablecoin-based Payment Services

By Sanday Chongo Kabange | 04/09/2025

The internet-only bank aims to develop stablecoin-based cross-border payment and remittance services, eyeing expansion in Asia and the Middle East.

Securities / Derivatives

Taiwan Mandates New Audit and Cyber Rules for Securities Firms

By Sanday Chongo Kabange | 03/09/2025

The new rules set minimum internal audit staffing levels and require cybersecurity self-assessments for firms seeking to expand their business or open new branches.

Fintech / Regtech

BSP Warns of Penalties for FIs That Fail to Meet Anti-Fraud Deadline

By Nithya Subramanian | 03/09/2025

The central bank has warned of licence suspensions and civil charges for FIs that don't upgrade fraud management systems by 2026.

AML / KYC

AUSTRAC Fines Revolut Payments for Late IFTI Reporting

By Sanday Chongo Kabange | 03/09/2025

AUSTRAC said Revolut Payments self-disclosed the reporting failures and subsequently implemented remedial controls.