Fintech / Regtech

    Fintech / Regtech

    RBI Enhances Security Requirements for Digital Payment Apps

    By Editors | 21/02/2021

    The RBI has set out new prescriptive guidelines on the security protocols that need to be adopted in digital payment applications.

    AML / KYC

    BIS, SWIFT Invite Firms to Participate in ISO 20022 Hackathon

    By Editors | 21/02/2021

    Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.

    Big Picture

    80pc of Central Banks Use Big Data to Support Policy Efforts

    By Editors | 21/02/2021

    Many central banks have undertaken initiatives to develop big data platforms to facilitate storage and processing of large data sets, but progress has varied.

    AML / KYC

    OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay

    By Editors | 20/02/2021

    BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.

    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.

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