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Big Picture
OECD Offers Policy Advice for Regulating AI in Financial Services
By Manesh Samtani | 17/08/2021
Among the recommendations are the introduction of suitability requirements for AI-driven financial services, and add-on capital buffers based on AI algorithms.
Crypto / Digital Assets
Poly Network Hackers Return Almost All of Stolen Funds
By Sanday Chongo Kabange | 13/08/2021
Hackers have returned nearly all of the USD 613 million worth of digital tokens stolen on Tuesday, says Poly Network.
Fintech / Regtech
Cambodia, Maybank Launch Cross-border Remittances Using ‘Bakong’
By Pongnut Thanaboonchai | 12/08/2021
Maybank customers in Malaysia can use the bank’s e-wallet to transfer funds to recipients in Cambodia with Bakong e-wallets.
Fintech / Regtech
DBS Vickers Receives ‘In-principle Approval’ to Provide DPT Services
By Editors | 12/08/2021
DBS Vickers is working through the necessary follow-ups with a view to meeting MAS’ requirements for a digital payment token services licence.
AML / KYC
HKMA Issues “Mandate” for Innovation in AML/CFT
By Manesh Samtani | 12/08/2021
The HKMA will launch interactive lab sessions to experiment with new technologies and emerging data analytics techniques, with an initial focus on network analytics and NLP.
AML / KYC
DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021
By Sanday Chongo Kabange | 11/08/2021
In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.
AML / KYC
BSP to Finalise Members of Open Finance Body This Year
By Sanday Chongo Kabange | 10/08/2021
The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.
Fintech / Regtech
Cambodia Explores Cross-border Transactions Using ‘Bakong’
By Editors | 10/08/2021
Cambodia launched its Bakong digital currency in October 2020. In the first half of 2021, 1.4 million transactions worth $500mn were recorded.
Fintech / Regtech
Bank of Korea CBDC Pilot to Kick off This Month
By Editors | 09/08/2021
Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.
Market Infrastructure
CPMI Workplan Highlights Focus on Stablecoins, CBDCs
By Editors | 06/08/2021
CPMI annual work programme highlights cross-border payments, stablecoins, CBDCs, central clearing and FMI risks as key priorities.
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