FINTECH / REGTECH

Enforcement

BNM Fines Bank of China’s Malaysia Unit for Outsourcing Violations

By Nithya Subramanian | 26/08/2024

BNM said the bank did not obtain prior approval before relocating core banking systems to new data centres.

Crypto / Digital Assets

DBS Concludes Blockchain Pilot to Streamline Grant Disbursements

By Ranamita Chakraborty | 25/08/2024

The programmable grant disbursement pilot used smart contracts to automate and streamline grant disbursements by Enterprise Singapore.

AML / KYC

Korean Financial Institutions Launch Credit Transaction Blocking Service

By Editors | 24/08/2024

Consumers can register for a financial system-wide block on credit transactions to protect their accounts from being used for fraudulent loans.

Fintech / Regtech

India’s IFSCA and Malaysia’s LFSA Sign Cooperation MOU

By Ajoy K Das | 24/08/2024

The MOU will facilitate information sharing to promote the development of both the GIFT City and Labuan international financial centres.

Crypto / Digital Assets

Korean Regulators Inspect Monitoring Systems for Crypto Market

By Manesh Samtani | 23/08/2024

Inspections found that Korea’s big-five crypto exchanges have established dedicated teams and systems to detect and respond to abnormal trading activities.

Fintech / Regtech

China, Vietnam Sign MOU on Cross Border Payment Connectivity

By Editors | 22/08/2024

The PBOC and SBV signed an MOU focusing on local currency settlement, currency swaps, and cross-border payment connectivity.

Capital / Liquidity

NZ Government Releases Final Report on Banking Competition

By Ranamita Chakraborty | 22/08/2024

The government said it will act on all 14 recommendations in the report, including measures to speed up open banking implementation.

Fintech / Regtech

BIS Innovation Hub to Develop ISO 20022 Data Analytics Platform

By Editors | 22/08/2024

The Project Keystone platform will support the growing adoption of ISO 20022 standards in payment systems worldwide.

Fintech / Regtech

FSS Korea Issues New Guidelines on Short Selling Controls

By Manesh Samtani | 22/08/2024

The FSS is aiming to have institutional investors implement new systems and controls to guard against naked short selling by the end of Q4 this year.