Fintech / Regtech

Fintech / Regtech

India: RBIH Wants Banks to Use AI to Detect Mule Accounts

By Editors | 03/12/2024

The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.

Market Infrastructure

HKMA Issues New Statutory Guideline on Cyber Risk Management

By Manesh Samtani | 03/12/2024

The SPM module articulates the HKMA’s policy, overarching principles, and supervisory approach on banks for managing cyber risks.

Fintech / Regtech

Australia Passes Law Introducing New Rules for BNPL Services

By Thisanka Siripala | 02/12/2024

BNPL providers must adhere to requirements under the the National Consumer Credit Protection Act. ASIC will be tasked with regulating the sector.

Fintech / Regtech

FSC Korea Adjusts Criteria for Authorising Internet-only Banks

By Manesh Samtani | 02/12/2024

The FSC plans to add a statutory condition under the Banking Act that will allow it to suspend an internet-only bank’s operations if it cannot execute its business plan.

Sanctions

Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report

By Editors | 02/12/2024

The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.

Fintech / Regtech

UK Launches AI Security Research Lab to Defend Against Cyber Threats

By Thisanka Siripala | 02/12/2024

The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.

AML / KYC

Central Banks Offers Legal and System Design Lessons for Retail CBDC

By Manesh Samtani | 01/12/2024

Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.

Crypto / Digital Assets

HKMA Announces Launch of Digital Bond Grant Scheme

By Editors | 30/11/2024

The scheme offers grants of up to HK$2.5mn for each eligible digital bond issuance to promote bond tokenisation in Hong Kong.

Fintech / Regtech

Japan Report Calls for Urgent Action to Address Quantum Risks

By Thisanka Siripala | 30/11/2024

Japanese FIs should have quantum-resistant cryptographic algorithms within high-priority systems ready for use by the mid-2030s.