Fintech / Regtech

Fintech / Regtech

HKMA Applying GenAI to Monitor for Banking System Risks

By Manesh Samtani | 27/03/2025

HKMA is using an in-house GenAI tool to analyse banks’ earnings call transcripts to identify major risks ahead of actual stress events.

Enforcement

FSS Probing KRX Over System Failure That Halted KOSPI Trading

By Nithya Subramanian | 26/03/2025

The system error caused a seven-minute freeze in KOSPI trading, the first market halt during regular hours since KRX was established in 2005.

AML / KYC

China Issues Rules on Use of Facial Recognition Technology

By Manesh Samtani | 26/03/2025

The regulations aim to address concerns about the privacy and security risks posed by the widespread use of facial recognition technology.

ESG / Sustainability

Bursa Malaysia Designates Official Sustainability Reporting Channel

By Nithya Subramanian | 26/03/2025

The CSI Platform is designated as the official sustainability reporting channel for all PLCs. New AI-driven tools will help PLCs with ESG reporting, risk assessments, and compliance.

AML / KYC

Malaysian Banking Sector Takes Effective Steps to Avert Scams: BNM

By Nithya Subramanian | 26/03/2025

The NFP has reduced the time taken to identify suspected fraud transactions by 75% and increased identification of mule accounts by 65%.

Crypto / Digital Assets

Crypto Scams Highlight ‘Digital Pivot’ in Money Laundering Tradecraft

By Nathan Lynch | 26/03/2025

The growth of cryptocurrency as a mainstream investment asset class has highlighted the need for new thinking in the fight against fraud and financial crime, writes Nathan Lynch.

Fintech / Regtech

Taiwan Launches New QR Code Payment Service for Travel

By Sanday Chongo Kabange | 25/03/2025

Nine participating financial institutions will offer a 100 percent rebate on fares paid with “TWQR QR Code for Travel” until 31 December.

Fintech / Regtech

Korea Allows Foreigners with Digital IDs to Open Bank Accounts

By Nithya Subramanian | 25/03/2025

Six banks will initially allow foreign nationals in Korea to use the mobile version of their foreigner registration cards to access financial services.

Sanctions

Crypto Industry Seeking More Guidance on Sanctions Implementation

By Manesh Samtani | 25/03/2025

A lack of guidance for the virtual asset industry is undermining the effectiveness of sanctions, according to roundtable participants.