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AML / KYC
NZ Police Seize $90m Allegedly Laundered with Bitcoin
By Editors | 25/06/2020
The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.
Market Infrastructure
CBDCs Could Amount to ‘Sea Change’ for Payments: BIS
By Manesh Samtani | 24/06/2020
Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.
AML / KYC
HSBC Offers Remote Account Opening to Hong Kong SMEs
By Editors | 24/06/2020
Recent initiatives by HSBC to shift to lower-cost, digital-first services are largely seen as a response to new competition from virtual banks in Hong Kong.
Fintech / Regtech
BOK to Boost AI Capabilities Through Kakao Partnership
By Editors | 23/06/2020
Kakao Enterprise’s AI technology will initially be used for task support such as taking meeting minutes, before the partnership later expands to support BOK policy-making.
Fintech / Regtech
MAS Seeks Cooperation with China on Green Finance
By Editors | 23/06/2020
MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.
AML / KYC
APAC Banks Will Come Out Stronger Post Pandemic
By Greg Watson | 23/06/2020
Covid-19 has kickstarted a rush to digitisation. Changes not expected for another 5-10 years will now be seen over the next 18 months, says Fenergo’s Greg Watson.
Enforcement
BaFin Efficacy Called into Question for Wirecard Handling
By Manesh Samtani | 22/06/2020
Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.
Fintech / Regtech
Singapore: AMTD, Xiaomi Finance Launch Digital Finance Programme
By Editors | 22/06/2020
AMTD and Xiaomi Finance will provide S$5mn to support to enable SMU and NUS-ISS to build curriculum and teaching resources for a digital finance leadership programme.
Fintech / Regtech
European Fintechs Launch New Industry Association
By Editors | 19/06/2020
The European FinTech Association will seek to remove cross-border barriers in financial services, including to streamline fragmented AML rules and address IBAN discrimination.
Fintech / Regtech
BOT Unveils New Project to Use CBDC for B2B Payments
By Editors | 19/06/2020
A CBDC prototype developed by Digital Ventures will be integrated with systems at industrial conglomerate Siam Cement PCL and its suppliers.
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