Fintech / Regtech

AML / KYC

MAS Issues Guidance on Uplifting Name Screening Systems

By Manesh Samtani | 30/04/2022

MAS observed an overreliance on system vendors to set the screening parameters. Most FIs did not enquire about or assess vendors’ information sources.

Enforcement

​CBIRC Works to Resolve Unpaid Balances from P2P Crackdown

By Darien Choong | 30/04/2022

The CBIRC said it will continue to pursue now-closed P2P lending platforms as well as their owners and executives through the court system for losses suffered by investors.

Fintech / Regtech

SFC Grants In-principle Approval to HashKey Crypto Platform

By Manesh Samtani | 30/04/2022

HashKey’s platform will offer trading, brokerage and automated trading services for cryptocurrencies, virtual commodities, stablecoins and security tokens.

Fintech / Regtech

BNM Awards Digital Bank Licences to Five Applicants

By Editors | 29/04/2022

The licence winners include Axiata’s Boost Holdings, RHB Bank, Grab-Singtel’s GXS Bank, Kuok Brothers, Sea Limited, YTL Digital Capital, AEON, MoneyLion, and KAF Investment Bank.

Fintech / Regtech

HKMA Consults on CBDC Policy and Design Choices

By Sanday Chongo Kabange | 28/04/2022

The paper says e-HKD could bring could present challenges to Hong Kong’s currency and financial stability, as well as the city’s role as an international financial centre.

Fintech / Regtech

Philippine Central Bank to Pilot Test Wholesale CBDC

By Editors | 28/04/2022

Project CBDCPh will test the use of a wholesale CBDC for large-value financial transactions across a limited number of financial institutions.

AML / KYC

FIs Must Continue to Innovate Approach to AML: HKMA

By Manesh Samtani | 27/04/2022

Executive director Carmen Chu says work is underway to update HKMA’s guidance on name screening, transaction monitoring and suspicious transaction reporting.

Fintech / Regtech

HKMA Launches Knowledge Hub to Promote RegTech Adoption

By Editors | 26/04/2022

The Hub’s launch is accompanied by videos featuring regtech solutions from HSBC, Citibank, iFinHealth, Ping An OneConnect Bank and ASTRI.

AML / KYC

AMLC Philippines Launches Review of Sanctions Screening Practices

By Editors | 26/04/2022

The AMLC has partnered with AML Analytics as its testing and validation partner to conduct a thematic review of customer- and transaction-screening systems at FIs and DNFBPs.