Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.
June 25, 2020Allscore Payment Service was also found to have providing services for illegal gambling websites, embezzled customer funds and misappropriated reserve funds.
May 10, 2020MAS 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, 2019Effective 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, 2019The 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, 2019Singapore'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, 2019Remittance firms will be prohibited from issuing advances to individuals starting September this year, ahead of the Payment Services Act entering into force.
June 13, 2019The 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, 2019In 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, 2019To 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