Fintech / Regtech

Crypto / Digital Assets

Australian Regulators Progressing Work on Stablecoins, CBDC

By Manesh Samtani | 09/12/2022

The CFR is trying to incorporate payment stablecoins into the proposed framework for SVFs. Meanwhile RBA assistant governor warns that CBDC could threaten financial stability.

Fintech / Regtech

Australia to Expand CDR to Enable Action Initiation

By Editors | 08/12/2022

Under a new bill in Parliament, consumers will be able to instruct accredited third parties to initiate CDR‑powered actions on their behalf.

Fintech / Regtech

India to Standardise Icons Used in Payment Apps to Curb Fraud

By Sanday Chongo Kabange | 08/12/2022

Project Pratima aims to introduce a uniform set of icons for basic payment actions and processes, curb fraud, and boost digital payments adoption.

Fintech / Regtech

NPCI Extends UPI Market Cap Compliance Deadline to End 2024

By Mark Johnston | 07/12/2022

The NPCI has for the third time extended its compliance deadline for imposing a 30 percent market cap limit on UPI payment apps.

Fintech / Regtech

CFTC Goes Live With New Swap Data Reporting Requirements

By Editors | 07/12/2022

The changes introduce new and updated data fields to drive the submission of more standardised trade data, largely based on the CDE developed by CPMI and IOSCO.

AML / KYC

Wolfsberg Group Endorses Use of AI/ML for Financial Crime Compliance

By Manesh Samtani | 05/12/2022

New report sets out five principles that support the ethical and responsible use of artificial intelligence and machine learning in financial crime compliance.

AML / KYC

AUSTRAC Consults on Drafts Guidance to Address Debanking

By Sanday Chongo Kabange | 05/12/2022

FIs should consider a remitter’s, DCE’s or fintech’s registration with AUSTRAC as a mitigating factor when assessing its ML/TF risks.

Fintech / Regtech

BSP Launches New, Free, Interoperable Bill Payment Facility

By Editors | 05/12/2022

Through Bills Pay PH, customers can make digital payments to almost 500 on-boarded billers for free even if they use different payment service providers.

Enforcement

US Financial Firms to Spend $18bn on Surveillance Tech This Year

By Editors | 03/12/2022

The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.