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AML / KYC
FSC Korea Proposes Additional Rule Changes for VASPs
By Editors | 18/02/2021
The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.
Fintech / Regtech
S. Korean Law to Help Reverse Mobile Payments Made in Error
By Editors | 16/02/2021
New legislation set to take effect in July will task the KDIC with helping users of mobile payment apps to retrieve funds that are transferred in error.
AML / KYC
Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto
By Manesh Samtani | 16/02/2021
The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.
AML / KYC
UK Issues Draft Rules to Promote Trust in Digital Identity
By Editors | 15/02/2021
New draft rules are aimed at deepening trust and confidence in digital identities through the adoption of common standards to safeguard personal data and privacy.
AML / KYC
GLEIF Unveils Issuance, Infrastructure Models for Verifiable LEI
By Editors | 12/02/2021
The vLEI system will give legal entities the capacity to use non-repudiable identification data pertaining to their legal status, ownership structure and authorised representatives.
AML / KYC
Japan FSA to Roll Out New AML System in Fiscal 2021
By Editors | 12/02/2021
The FSA will share access to the new system, which will use AI to monitor for unusual transactions and persons suspected of illegal activity.
Fintech / Regtech
Over 40 Parties to Apply for Digital Bank Licence: BNM
By Editors | 11/02/2021
Applications are being accepted until 30 June 2021, with BNM planning to award up to five licences in the first quarter of 2022.
Fintech / Regtech
FSC Korea to Allow Platform Operators Sell Insurance Products
By Editors | 11/02/2021
A new framework will be introduced to allow firms like Kakao and Naver to sell digital insurance products under sandbox-like conditions.
Fintech / Regtech
HSBC, HKTVmall Join Forces to Enhance Access to Trade Finance
By Manesh Samtani | 11/02/2021
HSBC will leverage commercial data from HKTVmall to analyse and forecast business performance during credit assessment, making loan approval faster and simpler.
Fintech / Regtech
Japan Finance Minister to Take CBDC Debate to G7 Meeting
By Sanday Chongo Kabange | 11/02/2021
Taro Aso said at a press conference that he thinks it’s important to “thrash out” policy measures regarding digital currency issued by central banks.
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