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Fintech / Regtech
HKMA to Launch API Link from CCRA to CDI in Q4
By Manesh Samtani | 01/09/2022
Banks are encouraged to access credit data in the CCRA database via the CDI, to help them automate credit approvals and enhance efficiency.
AML / KYC
HKMA Warns of Deposit Scams Being Used by Fraudsters
By Editors | 30/08/2022
Fraudsters claiming to be financial advisors are soliciting deposits in unknown foreign banks by promising high deposit rates.
Enforcement
HKMA Fines Commerzbank for CDD & PEP Screening Failures
By Editors | 29/08/2022
The HKMA found control lapses in onboarding due diligence as well as ineffective procedures for determining whether beneficial owners were PEPs.
Fintech / Regtech
Making Data Security a Priority in a World of Tech-driven Services
By Philip Keller | 14/08/2022
Philip Keller outlines key considerations for banks when establishing a protocol to ensure data can only be shared in a safe, reliable, timely, and complete manner.
Crypto / Digital Assets
HKMA, InvestHK Invite Firms to Showcase CBDC Solutions
By Editors | 11/08/2022
A CBDC track has been added to Global Fast Track 2022. Banks, fintechs and tech firms are asked to submit innovative solutions in eight focus areas.
Crypto / Digital Assets
Thailand: BOT Sets Out Next Steps to Pilot Retail CBDC
By Editors | 08/08/2022
The next phase of retail CBDC testing will involve Bank of Ayudhya, Siam Commercial Bank, payments provider 2C2P, and technology from Giesecke+Devrient.
Market Infrastructure
HKMA Directs Banks to Ensure Resiliency of Payment Operations
By Manesh Samtani | 31/07/2022
Payment-related operational incidents have impacted banks, their customers, as well as other financial institutions, including in the securities sector.
Market Infrastructure
HKMA Gives Banks 18m to Enhance Operational Risk Management
By Manesh Samtani | 26/07/2022
Banks are expected to implement the revised SPM module on operational risk management by 25 January 2024.
Capital / Liquidity
HKMA Finalises Guidance on Resolution Planning Expectations
By Editors | 26/07/2022
Resolution planning work will be prioritised for D-SIBs and other locally incorporated banks with total consolidated assets of more than HKD 150 billion.
Crypto / Digital Assets
Hong Kong as a Legal Centre of Excellence for Digital Finance
By Troy Song | 25/07/2022
Many crypto exchanges and institutions already choose Hong Kong as the place to resolve their disputes, but more need to be done, says Troy Song.
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