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AML / KYC
China Issues AML/CTF Guidelines for Microfinance Institutions
By Editors | 27/10/2020
The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.
Uncategorised
FSC Korea Designates KFTC to Manage P2P Financing Data
By Sanday Chongo Kabange | 26/10/2020
The Korea Financial Telecommunications and Clearings Institute will start operating a central registry for P2P transaction data from 1 May 2021.
AML / KYC
FATF to Drive Digital Transformation of AML/CFT Systems
By Manesh Samtani | 26/10/2020
Digital transformation of AML/CFT systems will help to ensure their resilience in future and build their efficiency, the FATF says.
Fintech / Regtech
Philippine Privacy Watchdog Warns Against Misusing Borrower Data
By Sanday Chongo Kabange | 23/10/2020
Some online lenders are using illegally obtained personal data to shame or harass borrowers when they failed to meet their obligations.
Fintech / Regtech
India’s Gift City Regulator Introduces Regulatory Sandbox Framework
By Sanday Chongo Kabange | 22/10/2020
All entities operating in the capital market, banking, insurance and pension sectors, as well as individuals and startups from India and FATF-compliant jurisdictions, are eligible.
Fintech / Regtech
IMAS Calls on Asset Managers to Join Digital Accelerator Programme
By Editors | 21/10/2020
Under the programme, asset managers will be paired with a shortlisted fintech with the most appropriate solution to the problem statement submitted.
AML / KYC
Japan FSA to Mandate Stricter ID Checks for E-payments
By Editors | 20/10/2020
The FSA plans to revise its guidelines for bank transfers to e-payment service providers in response to a series of fraudulent withdrawals.
Fintech / Regtech
China Pushes For Faster Launch of Digital Currency
By Sanday Chongo Kabange | 19/10/2020
The Shenzhen government is issuing 10 million yuan worth of digital currency for testing as part of ongoing DC/EP pilot tests.
Fintech / Regtech
Japan FSA to Debut Online Filing Platform by March 2021
By Editors | 18/10/2020
The FSA plans to update its ordinances and guidelines to enable a complete shift to online applications and filings by March 2022.
AML / KYC
MAS’ Use of Tech to Enhance Regulatory, Supervisory Functions
By Manesh Samtani | 17/10/2020
A recent FSB report offered case studies of how regtech and suptech are being deployed by regulators, including several examples from MAS.
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