Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.
January 19, 2023The new service allows financial consumers to suspend payments from all of their accounts at banks and non-banks at once.
January 4, 2023The guidance will help FIs develop alternative customer identification and verification procedures to help customers that are unable to meet standard ID requirements.
December 9, 2022The IFSCA said all senior managers are responsible for compliance with the new guidelines, which also apply to financial groups of regulated entities.
November 8, 2022The law imposes an obligation on telecom companies and banks to help hunt down fraudsters, and requires the establishment of a risk information sharing mechanism.
September 8, 2022The SFC is calling on licenced corporations to address regulatory deficiencies identified in some investment services offered online.
September 2, 2022The customer identity verification process for regular and reasonable cross border remittances can be further streamlined, the FSC said.
July 11, 2022The vLEI is a digital version of the LEI which can be securely verified online against the source information held in GLEIF’s data repository.
July 8, 2022The new rules, which takes effect on 1 August, require mobile apps to force users to authenticate their identities.
June 22, 2022Kanv Pandit highlights the need for a 'metacode of conduct' to protect metaverse users from loss and fraud until regulation catches up.
June 14, 2022