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AML / KYC
OJK to Require P2P Lenders to Report Transactions From 1 April
By Editors | 23/02/2021
The move is aimed at preventing the P2P lenders from being used for money laundering and terrorism financing, said OJK Deputy Director Munawar.
Capital / Liquidity
CBIRC Imposes Further Restrictions on Online Lending by Banks
By Editors | 23/02/2021
New rules require banks to contribute no more than 70 percent of the capital when providing loans through an online lending platform.
Fintech / Regtech
BSP to Draft Data Governance Policy for Financial Institutions
By Editors | 22/02/2021
The new regulatory framework will guide banks and other financial institutions on how they use and handle electronic information that they collect from customers.
Crypto / Digital Assets
SEC Thailand Considers New Qualifications for Retail Crypto Investors
By Sanday Chongo Kabange | 22/02/2021
The SEC is considering the introduction of screening criteria for retail crypto investors which could include age, trading experience and wealth.
Fintech / Regtech
Sea Group to Establish Digital Banking Operations in Indonesia
By Ranamita Chakraborty | 22/02/2021
Sea Group’s e-commerce arm Shopee plans to turn a newly acquired Indonesian bank into a digital bank. OJK is meanwhile preparing new regulations for digital banks.
Fintech / Regtech
RBI Enhances Security Requirements for Digital Payment Apps
By Editors | 21/02/2021
The RBI has set out new prescriptive guidelines on the security protocols that need to be adopted in digital payment applications.
AML / KYC
BIS, SWIFT Invite Firms to Participate in ISO 20022 Hackathon
By Editors | 21/02/2021
Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.
Big Picture
80pc of Central Banks Use Big Data to Support Policy Efforts
By Editors | 21/02/2021
Many central banks have undertaken initiatives to develop big data platforms to facilitate storage and processing of large data sets, but progress has varied.
AML / KYC
OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay
By Editors | 20/02/2021
BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.
AML / KYC
FSC Korea Proposes Additional Rule Changes for VASPs
By Editors | 18/02/2021
The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.
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