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AML / KYC
Korea’s FIU Upgrades AML System to Boost Processing Capacity
By Editors | 17/12/2020
The upgraded AML system has increased KoFIU’s processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives.
Fintech / Regtech
Australia’s Domestic Payment Organisations Propose to Amalgamate
By Editors | 17/12/2020
Australia’s eftpos, BPAY Group and NPPA will be preserved as distinct operations under a single Board with a shared roadmap for innovation and investment.
Fintech / Regtech
Taiwan FSC Cautions New Digital Banks Against Price Wars
By Editors | 17/12/2020
Taiwan’s new digital-only banks should offer innovative products and services instead of resorting to pricing competitions to attract clients, says FSC Chairman Thomas Huang.
Fintech / Regtech
Singapore to Review E-wallet Payment Limits in 2021
By Editors | 17/12/2020
Currently, e-wallet users in Singapore can hold up to S$5,000 in their accounts at any one time, and transactions are capped at S$30,000 per year.
Crypto / Digital Assets
SFC Issues First Licence to Digital Asset Trading Platform
By Editors | 16/12/2020
The licences permit OSL Digital Securities to operate regulated brokerage and automated trading services for digital assets.
Fintech / Regtech
Digital-only Bank Announces Closure in Australia
By Editors | 16/12/2020
Xinja blamed Covid-19 and a difficult capital raising environment for its decision to exit banking. APRA will monitor the return of customer funds.
Fintech / Regtech
Japan FSA to Allow Banks Use Customer Data for Targeted Ads
By Editors | 15/12/2020
The FSA will reportedly allow local banks to use their customers’ data for targeted advertising and sales activities.
Press Release
Regulation Asia Awards for Excellence 2020 – Results Announcement
By Editors | 15/12/2020
Regulation Asia held its third annual Awards ceremony on 15 December 2020 to recognise those in the industry that have helped address changing regulatory requirements in Asia Pacific over the past year.
Fintech / Regtech
Improving Operational Resilience: A Priority for the Year Ahead
By David LaFalce | 14/12/2020
DTCC’s David LaFalce highlights the need for firms to remove manual processes, re-evaluate their interconnectedness, and seek out opportunities for industry collaboration.
Crypto / Digital Assets
MAS Grants DBS In-principle Approval to Set Up Digital Exchange
By Manesh Samtani | 10/12/2020
The DBS announcement came two days after SIX and SBI Digital Asset Holdings announced plans to launch a digital asset issuance platform, exchange and CSD venue by 2022.
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