AI, Technology & Data

Anti-Money Laundering

FATF Issues New Report on Digitalisation of FIUs

By Editors | 28/10/2021

The report outlines how FIUs can benefit from the adoption of digital tools, including through improved data utility, analytical capacities, and STR management.

Cybersecurity

China to Allow Foreign Investors to Open VPN Services

By Darien Choong | 27/10/2021

Foreign telecoms companies will be allowed to set up joint ventures in China to provide VPN services to foreign businesses operating in Beijing.

Cybersecurity

Taiwan’s FSC Amends Regulations for Financial Holding Companies

By Darien Choong | 26/10/2021

Foreign banks in Taiwan are no longer required to have a local chief of information security if there is a designated officer at the head office or regional level.

Cloud & Infrastructure

HKMA to Bolster Regtech Talent Through New Skills Framework

By Manesh Samtani | 25/10/2021

The HKMA will launch a new ECF on Fintech by year-end. It will incorporate a set of competency standards and training curriculum that apply to regtech practitioners.

Structural Regulation

HK Financial Sector Calls for Easing of Covid Restrictions

By Sanday Chongo Kabange | 25/10/2021

Nearly half of surveyed FIs are considering moving staff or functions away from Hong Kong due to operational challenges, including travel and quarantine uncertainty.

Payments & Settlements

China to Develop Digital Trade, Cross-border Payments

By Darien Choong | 25/10/2021

Under a new five-year plan for trade in services, China will upgrade CIPS and further develop cross-border payments and financing.

Anti-Money Laundering

Inconsistent AML Approaches Cause Cross-border Payment Frictions

By Editors | 23/10/2021

The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.

Cloud & Infrastructure

HKMA, PBOC Agree to Link Regulatory Sandbox Across Borders

By Mark Johnston | 22/10/2021

The arrangement will facilitate cross-border financial innovation in the Greater Bay Area and strengthen supervisory exchanges.

Cybersecurity

FSB Seek Global Harmonisation in Cyber Incident Reporting

By Editors | 20/10/2021

The FSB will promote convergence in cyber incident reporting by developing best practices, defining information to be shared, and creating common terminologies.