FINTECH / REGTECH

AML / KYC

China Consults on Revisions to Anti–Money Laundering Law

By Manesh Samtani | 17/09/2024

The revisions now include stronger protections for personal data and requirements for FIs to assess and manage risks arising from new technologies.

Fintech / Regtech

New Zealand FMA Joins Global Financial Innovation Network

By Editors | 17/09/2024

The FMA said GFIN will provide it greater opportunities to collaborate with other regulators and work on topics such as AI and tokenisation.

Fintech / Regtech

FINRA Warns of Rising Cyber Risks from Outsourced Services

By Nithya Subramanian | 16/09/2024

FINRA warns of threats from data breaches, zero-day vulnerabilities, weather-related outages, and social engineering campaigns.

Fintech / Regtech

Singapore Launches e-Apostille Service for Document Authentication

By Nithya Subramanian | 13/09/2024

From 2025,  documents issued by ACRA can be authenticated online, reducing the processing time and the need for physical submissions.

Fintech / Regtech

Japan to Develop Guidelines to Quantum Proof Financial Sector

By Thisanka Siripala | 13/09/2024

A set of guidelines will be prepared to assist FIs in preparing for a transition to post-quantum cryptography, drawing from NIST standards.

Big Picture

SIFMA Calls for Technology-Neutral Approach to AI Regulation

By Nithya Subramanian | 13/09/2024

SIFMA says additional rules should only be considered if gaps are identified that existing regulatory and legal frameworks cannot address.

Fintech / Regtech

Japanese Megabanks to Stop Issuing Paper Bills and Cheques

By Thisanka Siripala | 13/09/2024

Sumitomo Mitsui will discontinue paper bills and cheques altogether in September 2025. MUFG and Mizuho Bank are expected to follow suit.

Fintech / Regtech

TWSE Suffers Russian DDoS Attack, But Recovers Quickly

By Editors | 13/09/2024

A pro-Russia hacker group targeted TWSE and other Taiwanese institutions with DDoS attacks in response to comments from President Lai Ching-de.

AML / KYC

Japan Backs FSB Plan to Streamline Cross-border Payments

By Thisanka Siripala | 12/09/2024

However, the Japanese Bankers Association is calling for incentives to help boost the adoption of LEIs, which are currently costly and complex to implement.