All posts tagged "payment services"
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1.1KAML / KYCMAS Adopts FATF Standards on VASPs in Payment Services Act
MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.
December 28, 2019 -
626Australia & NZNPP Australia Responds to RBA on Platform Access, Functionality
Effective immediately, NPP Australia has established a mandatory compliance framework allowing it to designate core capability requirements and enforce compliance through non-compliance charges.
August 1, 2019 -
622Australia & NZAustralian Payments Council Releases New Strategic Agenda
The strategic agenda sets out five areas that will guide the APC's work to ensure the payments system remains resilient, efficient, accessible, and adaptable.
July 3, 2019 -
1.4KFeatureSingapore Banks Well-Equipped Against Fintech Threat: Moody’s
Singapore's three largest banks are well placed to ward off threats to their market share by fintech firms, even as friendly regulatory policies encourage greater growth in the sector.
June 20, 2019 -
626Market Infrastructure
MAS: Remittance Firms Forbidden from Making Loans
Remittance firms will be prohibited from issuing advances to individuals starting September this year, ahead of the Payment Services Act entering into force.
June 13, 2019 -
2.0KAML / KYC
MAS Consults on AML/CFT Notices for Payment Services
The first Notice covers account issuance, money transfers and money changing services. The second Notice sets out a separate framework for digital payment tokens.
June 7, 2019 -
780AML / KYCJapan FSA Proposes Stronger Regulation for Crypto Assets
In a bill to amend the law, the FSA proposes the introduction of stronger protections for investors and restrictions to prevent misconduct in the crypto sector.
April 13, 2019 -
965Feature
MAS Proposes Payment Services Regulations for Consultation
To effect the objectives of the Payment Services Act passed in January, MAS intends to prescribe new regulations for payment services licensees and significant payment systems.
April 12, 2019 -
906AML / KYC
MAS Payment Services Bill Finalised, Tabled in Parliament
The Bill aims to provide a more conducive environment for innovation in payment services, while ensuring that risks across the payments value chain are mitigated.
November 19, 2018 -
463AML / KYC
UPDATED – Japan Orders Six Crypto Exchanges to Improve AML Systems
FSA issued business improvement orders to six exchanges after it found lax AML processes during on-site inspections. Of the six targeted, BitFlyer has stopped taking on new clients until it makes changes to its client management processes.
June 25, 2018
