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News on regulatory requirements, innovations, and challenges in customer identification, risk assessments, and due diligence processes for financial institutions.
Cryptocurrency
Hong Kong Rejects Japan-style Embrace of Cryptocurrencies
By Editors | 11/12/2017
Government official says Hong Kong will continue to regard cryptocurrencies as commodities, won’t legitimise through regulation.
Structural Regulation
What You Need to Know About MiFID II Product Governance Requirements
By Samuel Riding | 07/12/2017
With less than a month to go before the MiFID II comes into effect, Vijay Chander, executive director for Fixed […]
Anti-Money Laundering
EU Blacklists S.Korea, Macau Tax Regimes; HK on ‘Greylist’
By Garima Chitkara | 07/12/2017
HK on ‘greylist’; Macau, S.Korea, on blacklist with the latter said to operate a ‘harmful preferential tax regime’ for the wealthy, companies.
Anti-Money Laundering
Report Sets out Macau AML/CTF Weaknesses
By Editors | 03/12/2017
Asia Pacific Group says authorities have not yet grasped cross-border AML risks, but praises use of intelligence to produce suspicious transaction reports.
KYC & CDD
Philippines Looks to Blockchain to Spur Financial Inclusion
By Garima Chitkara | 23/11/2017
The Bankers Association of the Philippines has launched a digitisation initiative to facilitate customer identity management and verification through blockchain technology.
KYC & CDD
The Challenges for Offshore Banks Onboarding China’s HNWIs
By Appway | 20/11/2017
Digital onboarding can help banks provide a superior customer experience, guarantee AML compliance and improve internal efficiency.
AI Risk & Governance
The Final Frontier of Financial Regulation
By Peter Guy | 20/11/2017
FSB’s recent paper on artificial intelligence and machine learning reveal how far we are from managing its unknown effects on financial markets.
Cybersecurity
MAS MD Sets out Fintech Regulation Agenda
By Editors | 16/11/2017
Ravi Menon sets out raft of initiatives including new Payment Services Bill, technology risk management guidelines, machine readable forms.
KYC & CDD
No Privacy in Paradise
By Peter Guy | 13/11/2017
Look beyond the lurid financial gossip and the Paradise Papers show how technology is opening the banking system to scrutiny.
Cloud & Infrastructure
Thailand to Boost Fintech Use With New Law
By Garima Chitkara | 09/11/2017
Regulator says current laws are hindering development of financial technology sector; aims to promote ‘full scale digital economy’.
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