The government will look to align New Zealand's CDR system with the Australian model, rolling it out on a sector-by-sector basis.
July 12, 2021Financial firms offering services using AI technologies will be required to have controls in place that ensure fairness to prevent consumer discrimination.
July 11, 2021An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.
July 6, 2021While the use of innovative AML/CFT technologies can help identify risks and focus compliance efforts, manual review and human input remain "very important".
July 5, 2021Remaining amendments to Regulations, Notices and Guidelines needed for the Banking (Amendment) Act 2020 (BAA) commenced on 1 July 2021.
July 3, 2021Lax attitudes towards security by consumers have made it increasingly important for banks to take advantage of digital identity systems and put in place robust security measures.
June 29, 2021The consultation will facilitate the introduction of legislation to expand access to the digital identity system to private sector entities.
June 24, 2021The law prohibits the entities being audited from refusing to provide information, delaying such provision, and submitting false information.
June 17, 2021CBDCs should operate within appropriate privacy frameworks and minimise spillovers, the G7 Finance Ministers said in a communique.
June 8, 2021The new laws give the Indian government greater power to monitor online activity and require data to be stored in a “traceable” database.
May 27, 2021