Financial intermediaries are required to monitor for and report financial activity or transactions suspected to be related to human trafficking.
Central to success is a high level of commitment to a “digital first” strategy, both from the regulatory community and the wider industry.
Tier 4 UCBs and tier 3 urban cooperative banks are directed to appoint a chief compliance officer by 1 April 2023 and 1 October 2023, respectively.
The three initiatives have the potential to revolutionise the digital payments ecosystem, said NPCI.
A moving and storage company hired by Morgan Stanley's wealth management division sold thousands of devices containing customer information to a third party.
Accounting guidance issued in March has reportedly forced US listed banks that were building out crypto offerings to suspend their plans.
Operators of critical information infrastructure using products or services that have not undergone security evaluations will face fines of up to 5 percent of annual revenue.
Regulatory, law enforcement and prosecutorial agencies will cooperate to "treat both the symptoms and the root causes" that contribute to capital market crime.
Banks and NBFIs can issue and invest in green bonds subject to meeting prudential, reporting and disclosure requirements.
The rapid approvals are said to be part of China's efforts to quickly attain self-sufficiency in strategic high-tech sectors.
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