Fintech / Regtech

APAC Regulatory Environment for GenAI Needs to Remain Flexible

By Eugene Goyne | 15/11/2024

As the use cases for GenAI in the financial sector grow, regulators will play a critical role in how GenAI applications are shaped and brought to market.

Fintech / Regtech

EU Commission Seeks Input on AI Systems That Should be Banned

By Mark Johnston | 15/11/2024

The EU Commission’s AI Office is consulting on the AI system definition and the specific use cases that should be banned due to potential harm.

AML / KYC

New FinCEN Alert Offers Guidance on Detecting AI Deepfakes

By Editors | 15/11/2024

The alert explains typologies and provides red flag indicators to assist in identifying fraud schemes that leverage deepfake media created with GenAI tools.

Fintech / Regtech

HK SFC Sets Expectations on Use of GenAI Language Models

By Manesh Samtani | 14/11/2024

Licensed corporations intending to adopt GenAI language models in “high-risk use cases” are asked to discuss their plans with the SFC first.

AML / KYC

UK FCA Fines Metro Bank for Transaction Monitoring Failures

By Nithya Subramanian | 14/11/2024

A data-feeding error meant 60 million transactions were not monitored by Metro Bank over a four-year period.

AML / KYC

Unlocking the Potential of AI in Financial Crime Compliance

By Bradley Maclean | 14/11/2024

New research explores the potential of AI in financial crime compliance, highlighting pressing pain points and offering a roadmap for adoption.

Fintech / Regtech

Australia Enhances CDR Regime to Boost Ease of Use

By Sanday Chongo Kabange | 13/11/2024

The changes simplify the consent process and the requirements that apply when accredited banks seek data from a consumer.

Crypto / Digital Assets

China Launches e-CNY ‘Hard Wallet’, Resembling Convential Credit Card

By Editors | 12/11/2024

The PBOC hopes the card, aimed at seniors, students, and foreign visitors in China, will expand accessibility to and adoption of the e-CNY.

AML / KYC

Asian FinTech Associations Sign MoU on Anti-fraud Collaboration

By Editors | 12/11/2024

14 Asian FinTech associations signed an MoU last week at an event hosted in Taiwan to enhance collaborations in anti-fraud.

AML / KYC

AUSTRAC Launches New System for Enrolment, Registration and Reporting

By Sanday Chongo Kabange | 12/11/2024

AUSTRAC says the new online portal makes it easier and faster to enrol or register a new business and to meet AML/CTF obligations.

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