Fintech / Regtech

EU to Ramp Up Monitoring of BigTech Financial Services

By Manesh Samtani | 05/02/2024

The provision of financial services by BigTechs does not yet pose a financial stability risk, but policy action may be required as these activities continue to grow.

Fintech / Regtech

ASEAN Ministers Target AI Governance, Data Protection, Scam Prevention

By Ranamita Chakraborty | 05/02/2024

The ASEAN Digital Ministers Meeting launched AI governance and data protection guides with Thailand proposing an anti-online scam working group.

AML / KYC

Multinational Firm Scammed by Deepfake Tech in Hong Kong

By Editors | 05/02/2024

A finance worker was duped in a video call by a deepfake version of his company’s CFO to transfer HKD 200 million.

Fintech / Regtech

FSC Korea Unveils Rule Changes Targeting Cyber Resilience

By Editors | 04/02/2024

The revisions will make the existing rules simpler and less prescriptive, allowing financial firms more room to make decisions autonomously.

Fintech / Regtech

Taiwan QR Mobile Payment Service Now Available in Korea

By Editors | 01/02/2024

Taiwan travelers with electronic wallets linked to any of 13 financial institutions can pay South Korean merchants by scanning their TWQR code.

ESG / Sustainability

New Climate Risk Data Platform for FIs Goes Live in Taiwan

By Editors | 01/02/2024

The FSC said the platform will help FIs in developing models, disclosing information, conducting scenario analysis, and performing stress tests.

Fintech / Regtech

RBI Issues Directive on Streamlining Internal Compliance Monitoring

By Ajoy K Das | 01/02/2024

A review found that internal compliance monitoring is still carried out with “significant manual intervention”.

Fintech / Regtech

Reforms Needed to Better Regulate AI: ASIC Chair

By Manesh Samtani | 01/02/2024

ASIC is conducting a review into the use of AI in the banking, credit, insurance, and advice sectors to better understand use cases and impacts to consumers.

Crypto / Digital Assets

New Digital Assets Association Launches in Singapore

By Ranamita Chakraborty | 01/02/2024

The association will engage with regulators on behalf of the digital assets community through a regulatory sub-committee.

Crypto / Digital Assets

UAE Completes First Cross-border Payment Using CBDC

By Editors | 31/01/2024

The transaction was sent to China through the “mBridge” platform, developed by the BIS Innovation Hub, HKMA, CBUAE, BOT, and PBOC.

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