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Fintech / Regtech
PITCH! REGTECH: Drawing the Line Between RegTech and Frustrated Customers
By Karen Ng | 25/05/2023
As they embark on the RegTech race, banks cannot ignore frustrated customers.
Fintech / Regtech
PITCH! REGTECH: Rising Digital Crimes Give Urgency to Fraud Detection
By Karen Ng | 25/05/2023
The prevalence of digital crimes has given urgency to the need by banks to develop cutting-edge fraud detection systems, says DBS Bank’s head of legal & compliance Lam Chee Kin.
AML / KYC
Hong Kong SFC Issues Updated AML/CFT Guidelines
By Editors | 25/05/2023
The updated AML/CFT guideline includes a new stand-alone chapter on regulatory requirements and standards for addressing ML/TF risks associated with virtual assets.
Enforcement
Shanghai Police Uncover Money Laundering via Livestreamers
By Mark Johnston | 25/05/2023
Shanghai police have uncovered a scheme involving fraudsters who tipped livestreamers to conceal their illicit funds.
AML / KYC
SG Police Warns of Scams From Scanning QR Codes
By Karen Ng | 24/05/2023
The increasing usage of QR codes for cashless payments have led to a spike in phishing scams in Singapore.
AML / KYC
Japan to Enforce Travel Rule for Crypto from 1 June
By Ranamita Chakraborty | 24/05/2023
The FSA had already issued rules for travel rule implementation, but a definitive date for enforcement had not been set until now.
AML / KYC
SFC Finalises Licensing Regime for Crypto Trading Platforms
By Sanday Chongo Kabange | 24/05/2023
The SFC will start accepting licence applications from virtual asset trading platforms starting 1 June.
AML / KYC
MAS Bars Insurance Agent for 8 Years After Corruption Conviction
By Editors | 24/05/2023
The former AIG and Liberty insurance agent paid bribes to an Indonesian Embassy official and one other individual.
Crypto / Digital Assets
Indian Crypto Firms Call for UPI Access to be Restored
By Karen Ng | 22/05/2023
The calls for UPI access to be restored come after India’s government added virtual assets to the country’s Prevention of Money Laundering Act in March.
AML / KYC
Report Warns of Elevated Digital Attacks Rate Throughout 2023
By Sanday Chongo Kabange | 21/05/2023
LexisNexis Risk Solutions published a new report showing a 50 percent year-on-year increase in APAC’s payment attack rate.
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