FINTECH / REGTECH

AML / KYC

UK FCA Finalises Updates to Financial Crime Guide

By Editors | 04/12/2024

The financial crime guide is updated to provide additional guidance on sanctions, proliferation financing, transaction monitoring and cryptoassets.

Crypto / Digital Assets

Permissionless Blockchains Can Enhance Traditional Financial Services

By Editors | 03/12/2024

European Commission report says public permissionless blockchains represent a promising alternative to permissioned platforms.

Fintech / Regtech

DBS, EnterpriseSG, IMDA Launch Programme to Upskill SMEs on GenAI

By Nithya Subramanian | 03/12/2024

The programme offers SMEs a “structured, simplified approach” to discover use cases and practical applications of GenAI solutions for their business operations.

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.