All posts tagged "Payments"
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66AML / KYCAustralia Introduces Bill to Criminalise Cash Payments Over A$10,000
Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.
August 22, 2019 -
337Fintech / RegtechRBI Issues Enabling Framework for Regulatory Sandbox
The RBI has set a minimum net worth criteria of $35,000 for sandbox participants, half the amount specified in April’s draft.
August 14, 2019 -
293ChinaChina Almost Ready to Release Central Bank Digital Currency
PBOC deputy director for payments Mu Chungchun said the new digital currency and electronic payment system that would not rely entirely on blockchain.
August 13, 2019 -
472AML / KYCAustralia Records Decline in Payment Fraud Rates
AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.
August 9, 2019 -
484Capital RegulationRBI Cuts Consumer Credit Risk Weight, Offers Boost to NBFCs
The RBI will increase bank exposure limits for NBFCs, allow on-lending to priority sectors, and enable near-real-time tracking of payments fraud through the creation of a centralised registry.
August 9, 2019 -
243Australia & NZRBNZ Consults on New Regulatory Regime for FMIs
The RBNZ is consulting on a draft bill that sets out New Zealand's new regulatory regime for financial market infrastructures.
August 7, 2019 -
389Fintech / RegtechJapan: Security Failures Force New Payments Service to Shut
The security breach saw more than 38mn yen stolen from more than 800 accounts in the days after the July launch of a new mobile payment service for convenience stores.
August 6, 2019 -
481Australia & NZRBA Policy Shift Opens Australian Payments Market to Tech Firms
An RBA policy update will make it easier for fintechs – and so-called BigTechs – to enter Australia's payments system without having to obtain a banking licence.
July 31, 2019 -
473EnforcementGovt Panel Formally Recommends Complete Crypto Ban in India
An inter-ministerial committee has formally recommended a complete ban on cryptocurrencies in India and to punish any crypto-related activity with up to 10 years' jail.
July 24, 2019 -
518Asia-PacificBOT Concludes Project Inthanon’s Second Phase
Phase 2 used smart contracts to automate bond lifecycle events, and introduced pre-validation to reduce error and fraud in funds transfers. Phase 3 will be a joint effort with the HKMA.
July 22, 2019
