FINTECH / REGTECH

Enforcement

Vietnam Investigating $660mn Cryptocurrency Fraud

By Samuel Riding | 16/04/2018

Central bank concerned up to 32,000 people have been defrauded; Prime Minister urges regulators to ‘toughen management’ of cryptocurrency activity.

Fintech / Regtech

SFC Eying Rules on Instant Message Trade Orders

By Samuel Riding | 16/04/2018

Executive director also says regulator to develop common standard on the content and format of data required to be kept by investment firms.

Fintech / Regtech

HKMA, HKEX Adopt New Messaging Standard

By Editors | 13/04/2018

Monetary authority and stock exchange to use messaging system across cross-border payments and remittances, support ‘open banking’.

AML / KYC

S.Korea Probes Banks’ Cryptocurrency AML Polices

By Editors | 12/04/2018

Financial Services Commission to conduct on-site expectations of three banks with cryptocurrency account relationships.

Enforcement

Alipay Fined for Customer Rights, Data Protection Failures

By Editors | 12/04/2018

The company did not ensure customers had sufficient product information, failed to comply with rules on customer data, included misleading information in ads.

AML / KYC

Japan Proposes Regulatory Framework to Legalise ICOs

By Manesh Samtani | 09/04/2018

Government-backed research group proposes rules for identifying investors, preventing money laundering and protecting equity and debt holders.

Crypto / Digital Assets

India Bars Banks from Cryptocurrency Dealings

By Manesh Samtani | 07/04/2018

Reports suggest banks will have three months to comply; central bank meanwhile explores feasibility of state-backed digital currency.

Fintech / Regtech

GFMA Publishes Common Approach for Cyber Penetration Testing

By Manesh Samtani | 05/04/2018

New penetration testing framework establishes process for industry-wide cross-jurisdictional coordination on development and use of existing frameworks.

AML / KYC

New Rules for Australian Crypto Exchanges Take Effect

By Manesh Samtani | 05/04/2018

Exchanges must register with AUSTRAC, adopt AML/CTF programme, verify customer identities, report suspicious transactions, maintain seven years of records.