Fintech / Regtech

Fintech / Regtech

Korea Passes Bill to Regulate Prepaid Business Operators

By Mark Johnston | 29/08/2023

The bill was prompted by a scandal at Mergepoint, which sold discount coupons but whose founders were later charged with fraud.

Fintech / Regtech

OCBC Suffers Near Four-hour Bank Service Outage

By Editors | 28/08/2023

OCBC’s internet and mobile banking platforms were disrupted from around 8.30am until around 12.20pm on Monday.

Fintech / Regtech

Korea Seeks to Export Financial Infrastructure to Overseas Markets

By Sanday Chongo Kabange | 28/08/2023

The FSC is working on plans to boost exports of Korean financial infrastructure to overseas markets such as in Southeast Asia.

Fintech / Regtech

HKMA Announces Expanded Scope of Fintech Push

By Sanday Chongo Kabange | 28/08/2023

The HKMA will take “proactive steps” to assist banks, brokers and insurers to “put fintech solutions into action”.

Fintech / Regtech

APRA to Punish Failures to Meet Operational Resilience Expectations

By Mark Johnston | 26/08/2023

APRA’s Therese McCarthy Hockey said additional capital requirements will be imposed on entities found to be “significantly wanting” in compliance.

AML / KYC

HKMA to Explore Regulatory Changes to Promote Bond Tokenisation

By Sanday Chongo Kabange | 26/08/2023

The report suggests new requirements could be introduced for DLT platforms, covering areas from KYC and AML compliance to BCPs and cyber risk assessments.

Fintech / Regtech

China Allows New Accounting Treatment of Data Resources

By Editors | 24/08/2023

Under the new rules, companies will be able to classify their data as intangible assets. Data held for sale can be recognised as inventories.

Crypto / Digital Assets

RBA Completes CBDC Research Project, Issues Findings

By Sanday Chongo Kabange | 24/08/2023

The project highlighted areas where a CBDC could enhance the payments system, but also raised a number of legal and regulatory issues.

Fintech / Regtech

How AI Can Combat Financial Crime

By Ranamita Chakraborty | 24/08/2023

Industry experts tell Regulation Asia how the financial sector’s battle against sophisticated financial crimes has led to a greater reliance on artificial intelligence (AI) to detect fraud and maintain customer trust.