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Anti-Money Laundering
China to Strengthen Compliance Management at Overseas Bank Branches
By Editors | 24/01/2019
CBIRC guidelines require Chinese banks to strengthen compliance management at overseas branches in relation to AML/CTF, tax evasion, sanctions, consumer protection and cybersecurity.
Payments & Settlements
Australia Consults on Strategic Vision for Payments Sector
By Editors | 23/01/2019
The Australian Payments Council is inviting comments to review it 2015 Australian Payments Plan aimed at supporting digital payments.
Cloud & Infrastructure
Nine Associations Join Forces to Launch ‘Asia-Pacific FinTech Network’
By Editors | 17/01/2019
Launched at the Asian Financial Forum in Hong Kong, the new network aims to boost regional collaboration and cross-border innovation.
Cloud & Infrastructure
S. Korea FSC Announces Fintech Policy Direction for 2019
By Editors | 17/01/2019
More than 200 regulations under review to reduce barriers to fintech investment; Regulatory sandbox set for April launch.
Cloud & Infrastructure
Hong Kong Gets First API Exchange Platform in Open Banking Push
By Manesh Samtani | 17/01/2019
JETCO launches the city’s first Open API exchange; New Accenture survey indicates willingness of Hong Kong consumers to share personal financial information with third parties.
Payments & Settlements
Singapore Parliament Passes Payment Services Act
By Editors | 15/01/2019
The law represents a framework to streamline payment services regulation in Singapore under a single legislation and bring payment activities under the remit of the MAS.
Data Privacy
India to Force Foreign Brokers to Store Data Locally
By Editors | 15/01/2019
SEBI plans to mandate that data on Indian customers be stored on local servers, or for a real-time backup to be created to enable access from within the country.
KYC & CDD
China’s Rules for Blockchain to Take Effect in February
By Manesh Samtani | 15/01/2019
Companies will be required to verify user data based on national IDs and phone numbers, effectively removing the anonymity of blockchainin the country.
Cybersecurity
Two Thirds of Korean Crypto Exchanges Vulnerable to Hacking
By Manesh Samtani | 14/01/2019
Only 7 of 21 crypto exchanges in South Korea passed the government’s security audit; the rest are “vulnerable to hacking attacks at all times.”
Cloud & Infrastructure
Singapore Banking Union Opens to Broader Financial Industry
By Editors | 14/01/2019
The newly renamed Banking and Financial Services Union aims to help professionals stay relevant and competitive amid technological advancement and industry changes.
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