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Is 2025 Finally the Year for Open Finance in Southeast Asia?

Fintech News

Artificial intelligence (AI) is also gaining traction, particularly for risk assessment and operational efficiency. Vietnam, though still lacking a legal framework for open banking, has seen progress through initiatives by individual banks.

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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

This legislation represents a significant shift in corporate accountability, aiming to strengthen the UKs legal framework against financial crime. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.

Crime 88
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Singapore’s Risk Assessment Highlights New Terrorism Financing Concerns

Fintech News

Singapore has released its updated Terrorism Financing National Risk Assessment (TF NRA) and National Strategy for Countering the Financing of Terrorism (CFT) to address terrorism threats. Cross-border cash movements, along with the trade of precious stones, metals, and products, also remain at medium-low risk.

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ESAs publish Joint Annual Report for 2023

Neopay

Through the Joint Committee, the ESAs explored and monitored potential emerging risks for financial market participants and the financial system as a whole. DORA mandated the ESAs to develop several policy products before its application date of January 17, 2025, to supplement the legal framework.

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The global impact of money laundering in 2024

Neopay

Industry-Specific Statistics Payment Institutions: In 2022, about 68% of European anti-money laundering supervisors identified significant risks in the payments industry. Common breaches included transaction monitoring and customer risk assessment.

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Finovate Global Mexico: A Fundraising Unicorn and Open Finance’s Contribution to Financial Inclusion

Finovate

Ethiopia’s cabinet approved a legal framework for CBDCs. Central and Eastern Europe German corporate card platform Pliant inked a partnership with Commerzbank Lithuanian regtech iDenfy launched its AI-enabled Customer Risk Assessment solution. South African fintech Ukheshe rebranded as EFT Corporation.

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Anti-money laundering in transition: what's coming with AMLA – and how AI can help

Finextra

How the EU is reshaping its legal framework The European Union has begun a fundamental overhaul of its legal framework to combat money laundering and terrorist financing. This article shows how technology and regulation will work together in the future, and what financial institutions should be ready for.