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Capital / Liquidity
FSB Reports on ‘Rise of the Financial Machines’, Backs Regtech
By Samuel Riding | 02/11/2017
Report suggests AI and machine learning could create new systemically important players, warns on opacity, audit difficulty.
AML / KYC
Guangdong, HK to Boost Financial Cooperation
By Editors | 30/10/2017
Governments to relax restrictions on cross-border business operations and boost RMB flows; cooperate further on fintech and green finance.
AML / KYC
Philippines to Ease Forex Rules, Ending Registration System
By Editors | 30/10/2017
Central bank governor says rules will be relaxed so inbound investment, private sector foreign currency borrowing require reporting, not registration.
AML / KYC
RBI Confirms ID-Bank Account Link Compulsory, to Create Public Credit Registry
By Editors | 25/10/2017
Central bank says Aadhar cards must be linked to bank account; proposed credit registry to be open to ‘all stakeholders’.
AML / KYC
ASIC to Seek 10-year Sentences for Corporate Criminals
By Editors | 25/10/2017
Securities regulator says current maximum punishments are not sufficient as they don’t wipe out gains made from illicit activity.
AML / KYC
Taiwan FSC to Establish Platform for Information Security
By Editors | 19/10/2017
Order issued after reports that hackers breached bank’s online transaction system and stole $60mn which was distributed via SWIFT.
AML / KYC
Dangers in Banks Supply Chain Facilitation
By JP Reimann | 19/10/2017
Why supporting supply chain activity could be a regulatory and reputational minefield for banks.
AML / KYC
India to Allow Currency Hedging by Non-resident Companies
By Samuel Riding | 19/10/2017
RBI (the Reserve Bank of India) will allow central treasuries used by non-resident companies to hedge their rupee currency risk from trade transactions.
AML / KYC
FIs No Longer Have to Verify Client Addresses for AML/CTF – HKMA
By Editors | 12/10/2017
AML/CTF regulations to be changed; banking regulator says any current absence of address verification will be seen as justified.
AML / KYC
Australian Banks Want Fintechs to Pay for ‘Open Banking’
By Samuel Riding | 11/10/2017
Biggest lenders continue to frustrate efforts by authorities to increase competition and throw open door to banking disruptors.
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