Fintech / Regtech

AML / KYC

ChatGPT Could ‘Turbocharge’ Fraud and Scams: US FTC Chair

By Editors | 23/04/2023

The FTC plans to use existing authorities to pursue companies who misuse AI to violate laws against unfair and deceptive acts.

Fintech / Regtech

DBS Formed a Special Committee to Oversee Probe into March Outage

By Editors | 22/04/2023

Senior minister said the November 2021 and March 2023 incidents at DBS appear unrelated, but that the bank’s new special committee will determine if there are “common underlying weaknesses”.

AML / KYC

BNM, FICG to Co-host AML/CFT Hackathon in June

By Editors | 21/04/2023

The hackathon will be hosted with regional FIU body FICG to “search for creative solutions to curb financial crimes, particularly scams”.

Fintech / Regtech

Financial Sector Participating in Global Cyber Defence Exercise

By Editors | 20/04/2023

FS-ISAC member firms including Barclays, CME Group, Mastercard and Santander are participating in the so-called ‘Locked Shields’ exercise this year.

Crypto / Digital Assets

BIS, BOE Unveil Findings from Payments Synchronisation Project

By Manesh Samtani | 19/04/2023

Project Meridian demonstrated the ability to synchronise property ownership transfer with payment settlement using central bank money.

Fintech / Regtech

ChatGPT Can Interpret Fed Policy, Predict Stock Moves

By Mark Johnston | 19/04/2023

Researchers find ChatGPT can interpret Fed policy and corporate news and make investment recommendations based on them.

Fintech / Regtech

FSC Korea Issues Guidelines to Promote Safe Usage of AI Tech

By Editors | 19/04/2023

A verification system has also been introduced for use in examinations of AI-driven credit scoring models deployed by credit bureaus.

Fintech / Regtech

Japan’s Big Three Banks Embrace Generative AI Chatbots

By Mark Johnston | 18/04/2023

The adoption of AI chatbots by Japan’s top banks could spur other major Japanese companies to follow suit, as generative AI technology becomes increasingly popular.

Fintech / Regtech

UK Regulators Announce Next Steps for Open Banking Regime

By Mark Johnston | 18/04/2023

A new body will be created to boost the uptake of open banking in the UK and extend its benefits to other sectors of the economy.