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AML / KYC
MAS Seeks Expanded Powers to Address Financial Sector Risks
By Manesh Samtani | 21/07/2020
MAS proposes to expand its powers to issue prohibition orders, regulate virtual asset service providers, and impose technology risk management requirements on firms.
Fintech / Regtech
FSC Korea Revises Guidelines for P2P Lending Firms
By Editors | 20/07/2020
The key changes will strengthen disclosure rules, prohibit unfair sales activities, restrict sales of high-risk investment products, and impose limits on loans and investments.
Capital / Liquidity
Beyond FRTB: Risk Management and Enterprise Data Opportunities
By Editors | 20/07/2020
FRTB is a significant global industry challenge, but the process to achieve its outcomes can harness value from data that can be applied throughout a bank’s operations.
Fintech / Regtech
BOT Enters Third Phase of CBDC Development
By Editors | 19/07/2020
The BOT is planning to expand CBDC use among large businesses and, in September, to transactions with the HKMA.
Fintech / Regtech
FSC Korea Kicks Off Working Group on Artificial Intelligence
By Editors | 16/07/2020
The working group will seek to promote the use of artificial intelligence in financial services as part of the government’s ‘New Deal’ policy initiative.
AML / KYC
OCBC Enables Banking Access Via SingPass Digital Identity
By Editors | 16/07/2020
OCBC’s Aditya Gupta says the use of SingPass as an alternate login for mobile and online banking will give more customers the confidence to bank digitally.
AML / KYC
APAC Regulators Driving Digital Transformation
By Rachel Woolley | 16/07/2020
The pandemic has made it abundantly clear that digital transformation is no longer optional, says Fenergo’s Rachel Woolley.
AML / KYC
MAS Issues AML Outsourcing Guidance for Capital Market Firms
By Editors | 15/07/2020
MAS found material lapses in outsourced AML/CFT controls, largely the result of poor assessment and due diligence processes, and lax oversight and monitoring.
AML / KYC
BOK Takes Over Blockchain Authentication Tool BankSign
By Editors | 14/07/2020
BankSign was developed by Samsung SDS in collaboration with the Korea Federation of Banks to allow for easier customer authentication on different banks’ mobile apps.
Big Picture
CPMI Publishes Stage 2 Report on Enhancing Cross-Border Payments
By Editors | 14/07/2020
The report identifies 19 building blocks where further joint public and private sector work could enhance cross-border payments.
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