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AML / KYC
Singapore’s UOB Integrates Machine Learning in AML Systems
By Manesh Samtani | 24/08/2018
Collaboration with regtech firm Tookitaki has enabled deeper and broader analyses of data sets which can be applied to all processes within AML framework.
Enforcement
China Sees Largest Ever Theft of User Data
By Editors | 23/08/2018
Shenzhen-listed Ruizhi Huasheng Technology, a third party developer for state-run mobile carriers, stole up to 3 billion pieces of user data from 96 companies including Alibaba, Tencent and Baidu.
Fintech / Regtech
Thailand Central Bank Digital Currency Prototype Slated for Q1 2019
By Editors | 22/08/2018
Bank of Thailand will work with 8 participating banks to design, develop and test domestic wholesale funds transfers using a central bank digital currency.
Crypto / Digital Assets
Chinese Police Arrest Hackers on Suspicion of $88mn Cryptocurrency Theft
By Editors | 22/08/2018
Chinese police have arrested three individuals who allegedly hacked computers belonging to individuals and companies to steal 600 million yuan in bitcoin and ether.
Fintech / Regtech
Cambodia Launches Fintech Association
By Editors | 21/08/2018
New body will connect Cambodia with overseas fintech associations and has already signed agreements with associations in Thailand, Singapore and Taiwan.
Crypto / Digital Assets
Thailand Green Lights Seven Crypto Operators
By Editors | 21/08/2018
Crypto businesses were in May given 90 days to register with the SEC if they wished to carry on their business.
Fintech / Regtech
Virtual Banks in Hong Kong: Bringing Risks and Opportunities To Asia
By Kristi Swartz | 21/08/2018
A new era of smart banking in Hong Kong is anticipated to begin at the end of this year with the establishment of virtual banks. Competent players will embrace enormous opportunities to challenge the city’s traditional banking model.
Fintech / Regtech
China Seeks ‘Bad Bank’ AMCs’ Help to Resolve P2P Crisis
By Editors | 20/08/2018
The government is asking the 4 state-owned asset managers set up in 1999 to repair bank balance sheets for help with custody, liquidation and restructuring of P2P assets.
Fintech / Regtech
Banks Need Regulatory Defence Against Tech Firms
By Peter Guy | 16/08/2018
The Facebook controversy around user data hasn’t discouraged it from advancing its ambitions in financial services like payment and remittance processing.
Crypto / Digital Assets
Cryptocurrency Framework Needs Update – Japan FSA
By Manesh Samtani | 16/08/2018
On-site inspections revealed a lack of internal controls, inadequate governance and poor business models at exchanges.
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