All posts tagged "Payments"
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72ChinaPBOC Says Ant Group Working to Overhaul Business Structure
Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.
January 19, 2021 -
130Big PictureCovid-19 Has Changed the Cyber Threat Landscape: BIS
During the pandemic, there was a strong link between the prevalence of work-from-home arrangements and the incidence of cyber attacks, particularly at financial institutions.
January 15, 2021 -
81ChinaPayPal Acquires Full Control of China Payments Business
PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.
January 14, 2021 -
177ChinaPBOC Outlines Work Programme, Policy Priorities for 2021
The priorities include measures to promote green finance, expand the opening up of the financial system, deepen bond market reforms, and tackle financial system risk.
January 13, 2021 -
202ChinaPBOC Penalises Tenpay, Three Others for Violations – Report
Tencent’s payment platform Tenpay was fined for providing payment services for illegal and false transactions, and processing QR code payments without a licence.
January 7, 2021 -
163AML / KYCWhite House Bans US Transactions With Chinese Payment Apps
White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.
January 7, 2021 -
137AML / KYCRBI Mandates LEI Use for Large Payments via RTGS, NEFT
From 1 April 2021, all non-individual bank customers initiating or receiving transactions over 500m rupees via the RTGS or NEFT systems will need an LEI.
January 7, 2021 -
205AML / KYC
PBOC Revises AML Rules to Enhance Supervisory Scope
With continuous innovation in the financial sector and the emergence of new types of financial businesses, it is necessary to improve the scope of AML supervision, the PBOC says.
January 2, 2021 -
145Fintech / RegtechUS Regulators Call for Responsible Stablecoin Design, Operation
Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.
December 31, 2020 -
251China
Chinese Regulators Order Ant Group to Reorganise Business
Ant Group is directed to refocus on its payments business and correct regulatory violations in its credit, insurance, wealth management and asset securitisation businesses.
December 31, 2020
