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AML / KYC
India Shows How Policy Can Solve Financial Inclusion: BIS Paper
By Editors | 19/12/2019
The paper highlights India’s Aadhaar programme, which promotes financial inclusion, offers more robust AML/CFT checks, and has led to the creation of several innovative and interoperable digital platforms.
Fintech / Regtech
UPDATED – ZA Bank Becomes First HK Virtual Bank to Launch Pilot Services
By Editors | 19/12/2019
ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA’s sandbox mechanism.
Fintech / Regtech
Cryptoasset Risk in Misalignment with Investor Profiles: OECD
By Editors | 18/12/2019
New OECD research has found a strong likelihood of misalignment between the risk profiles of some financial consumers and the riskiness of cryptoassets.
AML / KYC
HKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings
By Editors | 17/12/2019
Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.
Fintech / Regtech
FSC Korea Grants Preliminary Approval to Third Internet-only Bank
By Editors | 17/12/2019
Led by mobile money transfer app operator Viva Republica, the Toss Bank consortium expects to commence operations as an internet-only bank during the first six months of 2021.
Fintech / Regtech
CPMI Offers Guidance for Designers of Wholesale Digital Tokens
By Editors | 12/12/2019
The report describes the potential innovations and design questions associated with digital tokens that could be used to settle large-value payments.
Big Picture
RegTech Association Flags Under-Investment in Australian Regtech
By Manesh Samtani | 12/12/2019
Despite Australia having everything needed to be a global RegTech leader, mainstream adoption is being stymied by an equity gap, says new research from the RegTech Association.
AML / KYC
Big Data is Transforming Investigations
By Jeremy Birch | 12/12/2019
Big data is rapidly changing how regulators and law enforcement conduct investigations and build cases, say Jeremy Birch, Peter Jones and Kyle Wombolt at Herbert Smith Freehills.
AML / KYC
Japan Banks to Join JPM Blockchain Initative to Boost AML Measures
By Editors | 11/12/2019
Japanese banks are looking to use JP Morgan’s Interbank Information Network to bolster AML measures because it makes screening of cash recipients faster and more efficient.
Fintech / Regtech
KRX to Tighten Rules on Algorithmic and AI-based Trading
By Editors | 11/12/2019
Algorithmic trading is not illegal in Korea, but authorities have long been concerned that the practice may cause market confusion and disadvantage retail investors.
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