All posts tagged "Alipay"
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1.0KAML / KYCHKMA Grades SVF Sector as ‘Medium Risk’ in Latest AML/CTF Assessment
While most of the sector presents low risk, higher risk has emerged in SVF products that allow overseas cash withdrawals, cross border remittances, and person-to-person transfers.
July 22, 2019 -
1.8KAML / KYCFacebook’s Libra – An Enabler of Money Laundering?
Regulators need to get up to speed with Facebook’s stablecoin technology so they can assess how it mitigates money laundering risks and where its weaknesses lie, says ComplyAdvantage CEO Charles Delingpole.
June 27, 2019 -
1.3KAML / KYCNew Rules for Payments, E-Commerce Take Effect in China
Non-bank payment institutions will be required to report to the central bank any consumer transactions exceeding 50,000 yuan and cross-border transfers over 200,000 yuan.
January 4, 2019 -
643Fintech / Regtech
HKMA Suspends E-wallet Auto Top-Up Service Amid Fraud Reports
Approximately HKD 180,000 was stolen from customers just three weeks after the launch of a service allowing automatic top-ups of e-wallets by direct debit from bank accounts.
October 26, 2018 -
359ChinaUnionPay Extends Reach into Hong Kong, Macau, Europe
UnionPay launches mobile payments in Hong Kong and Macau, among other tie-ups in Singapore, France and the UK.
September 17, 2018 -
418ChinaChina Blocks 124 Offshore Crypto Trading Platforms
In the latest move in a long line of measures to stamp out cryptocurrency trading, payments and ICOs in the country, the PBOC will block the IP addresses of over 120 offshore crypto exchange platforms accessible on the mainland.
August 27, 2018 -
583Fintech / Regtech
Banks Need Regulatory Defence Against Tech Firms
The Facebook controversy around user data hasn’t discouraged it from advancing its ambitions in financial services like payment and remittance processing.
August 16, 2018 -
386China
PBOC Imposes More Fines on Payments Firms
Alipay, Union Mobile Financial Technology, and Gopay.com were fined more than a combined $11 million for various breaches in payment services regulation.
August 9, 2018 -
467China
China’s Opening Up to Foreign Third Party Online Payment Firms
Stricter regulations are intended to limit abuses, improve government oversight and allow the entry of foreign enterprises for the first time. But, a more comprehensive framework is needed to manage systemic risk posed by the sector’s rise.
August 6, 2018 -
1.7KChinaChina’s Ant Financial and WeBank – ‘Too Big to Regulate’
The Chinese government has allowed unregulated online participants to innovate and grow in a sector traditionally dominated by state banks. Systemic risk has increased by not imposing strict and comprehensive regulatory regimes.
August 2, 2018
