Fintech News

FEBRUARY 18, 2024

With expansion plans across Asia and beyond, dtcpay needed to streamline identity checks to remove friction during onboarding while still adhering to regulations. This includes the development of proprietary technologies such as workflow builders, liveness and deepfake detection, and mechanisms to adhere to the travel rule.

Verification 119

Verification Travel Rule Multi-Currency Compliance 119

The Payments Association

MAY 9, 2025

As financial crime evolves, correspondent banks must prioritise wire transfer transparency to meet global regulations and safeguard the financial system. 2) Regulations 2022 updated existing rules, reflecting elements of the EUs 2023 regulation. Recent enforcement actions & typologies Regulators are beginning to act.

Correspondent Bank 88

Correspondent Bank Correspondent ISO 20022 Wire Transfer 88

Fintech News

JULY 17, 2024

The HKMA concluded that the bank failed to continuously monitor business relationships, conduct enhanced due diligence in high-risk situations for a period, and maintain proper records for some customers. This includes harmonising regulations across jurisdictions, sharing intelligence, and conducting joint operations.

Money Laundering 108

Money Laundering Law Enforcement AML Non-Bank 108

Neopay

JANUARY 25, 2024

This risk is increased where credit and financial institutions engage in business relationships with providers of crypto-asset services which are not authorised under Regulation (EU) 2023/1114.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

Fintech News

JANUARY 24, 2024

On January 14, 2019, the Singapore Parliament passed its comprehensive Payment Services Act (PS Act), replacing the former Payment Systems Oversight Act and Money-Changing and Remittance Businesses Act to broaden the scope of regulated payment activities to include emerging trends and industries like digital assets and cryptocurrencies.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Blockchain 98

Global Fintech & Digital Assets

JANUARY 8, 2024

Background The Consultation Paper follows the discussion paper released by the HKMA in January 2022 (Discussion Paper) seeking the public’s views on its proposed approach to the regulation of stablecoins (see Latham’s blog post ), and its conclusions issued in January 2023 (Discussion Conclusions). FRS issuers would be regulated and licensed.

Stablecoins 59

Stablecoins Consulting Issuers Non-Bank 59