FINTECH / REGTECH

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.

Capital / Liquidity

Official Media Confirms China Bitcoin Ban Only Temporary

By Editors | 09/10/2017

Xinhua says authorities will introduce a licensing programme and stricter AML rules for cryptocurrency exchanges; ICOs also to become regulated.

Fintech / Regtech

Singapore Enters 2nd Phase of Blockchain-based Payments Trial

By Editors | 09/10/2017

Trial has already been completed on interbank transfers; blockchain programme will be extended to include securities sector as well as payments.

AML / KYC

Thai Banks Join up to Improve Cybersecurity

By Editors | 09/10/2017

Fifteen banks in Thailand have set up a group to tackle information technology stability and security and prepare for cyber-attacks.

Enforcement

Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions

By Editors | 04/10/2017

Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.

Fintech / Regtech

Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks

By Editors | 04/10/2017

Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.

Fintech / Regtech

CPMI, IOSCO Call for Uniformity in UPI Creation, Reporting

By Editors | 02/10/2017

Report proposes that each UPI maps to reference data which indirectly describes an OTCD product without identifying transaction details.

Capital / Liquidity

India Insolvency Information Utility Granted 5-year License

By Editors | 02/10/2017

Bank-owned NESL wins license to operate utility which shares information on financial contracts as part of efforts to clean up bad loans.

AML / KYC

HKMA Launches Smart Banking Initiative Including Enhanced Sandbox

By Samuel Riding | 29/09/2017

In addition to the enhanced sandbox, HKMA will also work on a new payment system, minimising regulatory friction in onboarding and other services.