All posts tagged "data localisation"
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139IndiaRBI Lifts Diners Club Restrictions Citing ‘Satisfactory Compliance’
Restrictions prohibiting Diners Club from onboarding new domestic customers have been lifted. Similar restrictions are still in place for Amex and Mastercard.
November 14, 2021 -
310AML / KYCInconsistent AML Approaches Cause Cross-border Payment Frictions
The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.
October 23, 2021 -
257AML / KYCRBI to Allow Foreign Banks to Store Limited Data Overseas
Following meetings with foreign banks, the RBI will allow certain static data to be stored in offshore locations for AML and sanctions screening purposes.
October 14, 2021 -
323Fintech / RegtechRBI Halts Plan to Allow New Umbrella Entities in Retail Payments
The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India's data localisation rules.
September 2, 2021 -
196IndiaRBI Says Only Visa Complies With Data Localisation Rules
Visa is the only foreign card network that complies with requirements for financial data on Indian customers to be stored locally, the RBI says.
August 19, 2021 -
149EnforcementRBI Imposes Restrictions on Mastercard Over Data Storage
The action may hamper the ability of private banks to issue new cards to customers in the near term due to their exclusive tie-ups with Mastercard.
July 15, 2021 -
1.5KAsia-PacificBSP, MAS Declare Opposition to Data Localisation Requirements
Data mobility in financial services supports economic growth, innovative financial services, risk management and compliance, BSP and MAS say in a joint statement.
November 17, 2020 -
1.9KFeatureWhatsApp Wins Approval to Launch Payments Service in India
The approval comes two and a half years after WhatsApp launched in beta mode, but was then forced to comply with India's data localisation requirements.
November 9, 2020 -
1.3KAsia-PacificRegulatory Fragmentation in Markets Undermines Economic Recovery
Fragmentation introduces distortions and inefficiencies, undermining financing when it is needed to facilitate the recovery from Covid-19, ASIFMA says in a new report.
August 5, 2020 -
2.9KAsia-Pacific
Data: Fault Lines Criss-crossing Asia’s Capital Markets
Global harmonisation and progressive thinking are needed to support data connectivity between markets, says Matthew Chan at ASIFMA.
July 27, 2020
