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Fintech / Regtech
BSP Urges Rural Banks to Promote Financial Inclusion Through Tech
By Mark Johnston | 07/12/2021
As of end-June 2021, there were over 3,000 rural banks nationwide. However, only 21 of them offer PESONet and 11 offer InstaPay for electronic fund transfer services.
AML / KYC
CBSL to Prosecute Remittances via Informal Channels Under AML Law
By Duruthu E Chandrasekera | 07/12/2021
Foreign workers have been using Hawala channels for remittances, as they offer better rates than formal banking channels.
Fintech / Regtech
Thai SEC to Require Crypto Wallet Providers to be Licensed
By Editors | 06/12/2021
Custody and wallet providers required to obtain information identifying the account owners of wallets. New guidelines coming on the use of crypto in payments.
Fintech / Regtech
Philippine SEC Seeks Funding Boost to Support Digital Transformation
By Mark Johnston | 06/12/2021
The SEC is seeking PHP 2.6 billion over a five year period to implement sweeping digital transformation initiatives, including to upgrade existing systems.
Fintech / Regtech
OJK Launches Five Year Roadmap for Rural Bank Development
By Mark Johnston | 06/12/2021
Indonesia’s OJK has launched a five year development roadmap for the country’s rural banks and Sharia rural banks.
Securities / Derivatives
Thai SEC Seeks to Smooth Transition to Mandatory Pension
By Editors | 05/12/2021
The SEC proposes changes to reduce the chance of voluntary provident funds being dissolved or liquidated, which it says could impact THB 1.3 trillion in capital market investments.
Market Infrastructure
Thai SEC to Enhance Capital Market Resilience to Cyber Risk
By Editors | 04/12/2021
Under revised rules, market participants are required to and enhance cybersecurity control measures, vulnerability assessments, penetration testing and third-party access controls.
AML / KYC
Environmental Crime, A Global Security Issue
By Manesh Samtani | 01/12/2021
Interpol’s Rory Corcoran says environmental crime is funding global terrorism and organised crime, while also impacting the sustainability agenda.
AML / KYC
Police Arrest 1,000 in Interpol Operation Targeting Online Fraud
By Ranamita Chakraborty | 01/12/2021
The operation was used to test a new worldwide stop-payment mechanism which Interpol plans to fully embed in police communication channels next year.
Capital / Liquidity
BSP Allows Digital Banks to Participate in Monetary Operations
By Editors | 30/11/2021
Digital banks and unit investment trust funds can also participate in the secondary market for central bank securities.
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