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AML / KYC
Taiwan to Lower Payment Thresholds for Customer Notification
By Editors | 21/12/2020
The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards.
Fintech / Regtech
APRA Sets September Go-Live for New Data Collection Solution
By Editors | 21/12/2020
The timing of regulatory data reporting commencing in APRA Connect will vary by industry. Existing data collections for banks will continue through D2A for the time being.
Fintech / Regtech
HKMA Outlines Regtech Use Cases for Pandemic Environment
By Editors | 18/12/2020
In its fifth issue of ‘Regtech Watch’, the HKMA outlines four potential regtech use cases relevant to the pandemic environment.
AML / KYC
Korea’s FIU Upgrades AML System to Boost Processing Capacity
By Editors | 17/12/2020
The upgraded AML system has increased KoFIU’s processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives.
Fintech / Regtech
Australia’s Domestic Payment Organisations Propose to Amalgamate
By Editors | 17/12/2020
Australia’s eftpos, BPAY Group and NPPA will be preserved as distinct operations under a single Board with a shared roadmap for innovation and investment.
Fintech / Regtech
Taiwan FSC Cautions New Digital Banks Against Price Wars
By Editors | 17/12/2020
Taiwan’s new digital-only banks should offer innovative products and services instead of resorting to pricing competitions to attract clients, says FSC Chairman Thomas Huang.
Fintech / Regtech
Singapore to Review E-wallet Payment Limits in 2021
By Editors | 17/12/2020
Currently, e-wallet users in Singapore can hold up to S$5,000 in their accounts at any one time, and transactions are capped at S$30,000 per year.
Crypto / Digital Assets
SFC Issues First Licence to Digital Asset Trading Platform
By Editors | 16/12/2020
The licences permit OSL Digital Securities to operate regulated brokerage and automated trading services for digital assets.
Fintech / Regtech
Digital-only Bank Announces Closure in Australia
By Editors | 16/12/2020
Xinja blamed Covid-19 and a difficult capital raising environment for its decision to exit banking. APRA will monitor the return of customer funds.
Fintech / Regtech
Japan FSA to Allow Banks Use Customer Data for Targeted Ads
By Editors | 15/12/2020
The FSA will reportedly allow local banks to use their customers’ data for targeted advertising and sales activities.
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