Authorization - Payments Space

OCBC and Land Transport Authority Pilot Blockchain Payments for Construction

Fintech News

NOVEMBER 5, 2024

OCBC Bank has partnered with the Land Transport Authority of Singapore (LTA) to pilot a new blockchain payments solution for construction projects. This initiative builds on OCBC’s participation in Project Orchid , a Monetary Authority of Singapore initiative to develop infrastructure for a digital Singapore dollar.

Authorization

Authorization Blockchain Payments Payment Solutions

Authorized payment scams climb in US

Payments Dive

DECEMBER 14, 2023

Such scams are expected to jump 50-plus percent to $3 billion by 2027, forcing financial institutions to address the rising threat, according to a new report.

Scams

Scams Authorization Addressing Payments

BLIK Romania S.A. Obtains Authorization for the Operation of the BLIK Payment System from the National Bank of Romania

Fintech Finance

OCTOBER 4, 2024

Obtaining the operating authorization from the National Bank of Romania (BNR), on October 1, 2024, six months after submitting the authorization application, allows the start of operations and the continuation of preparations for the launch of the system. We are open to continue discussions with various entities in the Romanian market.”

Authorization

Authorization Online and Mobile Banking Payments Legal

Webinars

From Start to Scale: Driving Growth Through Seamless Payments Implementation

The Evolving Retailer's Fulfillment Strategy: Meeting Demands with Agility

MORE WEBINARS

Reducing Fraud and Amping up Authorizations: Worldpay and Capital One Share Transaction Data to Optimize Payments

Fintech Finance

OCTOBER 28, 2024

FraudSight can significantly reduce losses for merchants by both detecting fraud with higher precision and enhancing authorization rates through decreased instances of false positive declines. Merchants are also likely to see improved detection of real fraud events as a result of the enhanced data sharing between the two organizations.

Authorization

Authorization Transactions Fraud Detection Issuers

How to Find and Test Assumptions in Product Development

Watch this webinar with Laura Klein, product manager and author of Build Better Products, to learn how to spot the unconscious assumptions which you’re basing decisions on and guidelines for validating (or invalidating) your ideas. Assumptions mapping is the process of identifying and testing your riskiest ideas.

Product

Banque de France and Monetary Authority of Singapore complete post-quantum cryptography trial

Finextra

NOVEMBER 5, 2024

The Banque de France (BdF) and the Monetary Authority of Singapore (MAS) have completed a groundbreaking joint experiment in post-quantum cryptography (PQC) to strengthen internet communications and data transfers conducted across continents.

Authorization

Authorization Posting

Aspire Receives in-principle Approval for Major Payment Institution License From Monetary Authority of Singapore

Fintech Finance

OCTOBER 15, 2024

Aspire , a Singapore-headquartered all-in-one finance platform for modern businesses, today announced that it has received in-principle approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

Payments Institute

Payments Institute Authorization Payments Finance

Neonomics Files Complaint With the Competition Authorities Over Anti-Competitive Practices in Norway’s Payments Market

Fintech Finance

DECEMBER 17, 2024

Neonomics , an open banking payments and data company, has lodged a formal complaint to the Norwegian Competition Authority to advocate for innovation and fair competition within the Norwegian Payments market. This behavior harms consumers and businesses alike, while protecting entrenched interests.

Authorization

Authorization Visa Payments Innovation

Monetary Authority of Singapore Unveils Plans to Enable Industry-Wide Adoption of Tokenisation

The Fintech Times

NOVEMBER 4, 2024

The Monetary Authority of Singapore (MAS) has unveiled four new plans to help advance tokenisation in financial services in the region. The post Monetary Authority of Singapore Unveils Plans to Enable Industry-Wide Adoption of Tokenisation appeared first on The Fintech Times.

Authorization

Authorization CBDC Multi-Currency Settlement

Monetizing Analytics Features: Why Data Visualizations Will Never Be Enough

Think your customers will pay more for data visualizations in your application? Five years ago they may have. But today, dashboards and visualizations have become table stakes. Discover which features will differentiate your application and maximize the ROI of your embedded analytics. Brought to you by Logi Analytics.

End User

Zelle, big banks challenge senators on scam reimbursements

Payments Dive

JULY 25, 2024

Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

Zelle

Zelle Scams Authorization Payments

UK Financial Conduct Authority plans to reform safeguarding rules for e-money and payment institutions

The Payments Association

OCTOBER 23, 2024

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms). What does this mean for Payments firms?

Rules

Rules Payments Institute Authorization Reconciliation

Chip maker launches probe into data theft amid cybersecurity concerns

VISTA InfoSec

JULY 1, 2024

(AMD) announced that it has launched a probe of a data breach carried out by a cybercriminal group called Intelbroker that led to several private documents and information being stolen which occurred early this month.

CHIPS

CHIPS Cybersecurity Data Breach Breach

Data Breaches 101: What They Are And How To Prevent Them

VISTA InfoSec

FEBRUARY 25, 2024

A data breach occurs when cybercriminals infiltrate your systems and access sensitive information without authorization. Minimize Access Only authorize essential system/data access for users per role responsibilities. What Is A Data Breach? Much exploitation targets known vulnerabilities with available fixes.

Data Breach

Data Breach Breach Multifactor Authentication Cybersecurity

Singapore warns banks to prepare for quantum computing cyber threat

Finextra

FEBRUARY 21, 2024

The Monetary Authority of Singapore has told the country's financial institutions to make sure they are prepared for the rising cybersecurity risks posed by quantum computing.

Cybersecurity

Cybersecurity Authorization Risk

Data Protection Officers and Their Key Responsibilities

VISTA InfoSec

OCTOBER 21, 2024

A data protection officer role is to act as a bridge between organizations, its employee, and the regulatory authorities ensuring that the handling of personal data is safe, lawful and in line with regulations like GDPR (General Data Protection Regulation). Key Responsibilities of a Data Protection Officer 1.Monitoring

CCPA

CCPA Privacy Laws Data Breach

Singapore to Launch Two New e-Payment Solutions in Mid-2025 to Phase Out Cheques

Fintech News

DECEMBER 4, 2024

The Monetary Authority of Singapore ( MAS ) and the Association of Banks in Singapore ( ABS ) announced that two new electronic payment solutions will be launched in mid-2025.

Payment Solutions

Payment Solutions Payee Payer Payments

Singapore Ramps Up Anti-Money Laundering Measures After S$3 Billion Bust

Fintech News

OCTOBER 6, 2024

In addition, the report recommends deepening the collaboration between banks and authorities through platforms like COSMIC —a digital system enabling financial institutions to share customer risk information securely. The IMC’s recommendations aim to adapt Singapore’s AML framework to counter increasingly sophisticated criminal methods.

Money Laundering

Money Laundering Law Enforcement Financial Crimes Due Diligence

Starling Bank fined £29m for 'shockingly lax' AML screening

Finextra

OCTOBER 2, 2024

The Financial Conduct Authority has fined Starling Bank £29 million for failings related to its financial sanctions screening.

AML

AML Authorization

What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Fintech News

OCTOBER 27, 2024

The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. FIs have a six-month transition period to comply with this new duty before it becomes enforceable under the SRF.

Phishing

Phishing Scams Blocks Authorization

Singapore Reports S$6.7 Million in Losses from Rising Gov’t Impersonation Scams

Fintech News

OCTOBER 14, 2024

The Singapore Police Force (SPF) and the Monetary Authority of Singapore (MAS) have issued a joint warning about a sharp increase in government impersonation scams. Many victims only realize they have been scammed when the scammers disappear or when they attempt to verify the situation with authorities. million in September 2024 alone.

Scams

Scams Money Laundering Authorization Blocks

Neonomics files complaint over anti-competitive practices in Norway's payments market

Finextra

DECEMBER 17, 2024

Open banking data vendor Neonomics has filed a complaint with the Norwegian Competition Authority alleging anti-competitive practices in the payments market by the country's banking sector.

Authorization

Authorization Payments

FCA charges reality TV stars over 'finfluencer' campaign

Finextra

MAY 16, 2024

The Financial Conduct Authority has charged a host of so-called 'finfluencers' - including former Only Way is Essex star Lauren Goodger - for promoting an unauthorised trading scheme to their social media followers.

Authorization

MAS-Led Forum Conducts Cloud Outage Exercise in Response to Growing Risks

Fintech News

NOVEMBER 17, 2024

This was organised under the Financial Sector Cloud Resilience Forum, established by the Monetary Authority of Singapore (MAS) in April 2023.

Risk

Risk Best Practices APACS Authorization

Gan Kim Yong to Take Over as MAS Chairman From Lawrence Wong

Fintech News

MAY 13, 2024

The Monetary Authority of Singapore (MAS) announced that Gan Kim Yong, Minister for Trade and Industry, will be the new Chairman of the MAS Board of Directors, effective from 15 May 2024 to 31 May 2026. Gan, who has served as Deputy Chairman of MAS since 8 July 2023, will succeed Lawrence Wong, Deputy Prime Minister and Minister for Finance.

Authorization

Authorization Finance FinTech Posting

‘Finfluencers’ Must Be Licensed When Providing Financial Advice, Says MAS

Fintech News

NOVEMBER 13, 2024

The Monetary Authority of Singapore (MAS) received fewer than five complaints annually over the past five years concerning online “finfluencers,” Parliament was told during a session. Most of these complaints involved remarks by individuals who did not provide financial advice and therefore did not fall under MAS regulation.

Authorization

Authorization Regulations Risk Product

German Central Bank Joins MAS-Led Project Guardian

Fintech News

NOVEMBER 11, 2024

The Deutsche Bundesbank has become a member of Project Guardian , a global initiative led by the Monetary Authority of Singapore (MAS) that explores the use of asset tokenisation in financial markets.

Central Bank

Central Bank Distributed Ledger Technology (DLT) Interoperability Cross-Border

BIS Completes Project Mandala, Automating Cross-Border Transaction Compliance

Fintech News

OCTOBER 28, 2024

Project Mandala was carried out in collaboration with the Reserve Bank of Australia, the Bank of Korea, Bank Negara Malaysia, and the Monetary Authority of Singapore.

Cross-Border

Cross-Border Compliance Cross-Border Payments Automation

Crypto Payments in Singapore Near US$1 Billion, Fueled by Stablecoin Adoption

Fintech News

SEPTEMBER 11, 2024

In August 2023, the Monetary Authority of Singapore (MAS) finalised its stablecoin regulatory framework , providing clear guidelines for issuers. In contrast, stablecoins pegged to the U.S. dollar, such as USDT, are primarily transferred in larger amounts, reflecting more institutional use.

Stablecoins

Stablecoins Issuers Cryptocurrency Payments

Understanding Zero Trust Network Access and Why Needs It

VISTA InfoSec

JUNE 7, 2024

Zero trust, as its name implies, is a digital security framework that emphasizes the need for strong, frequent authorization and authentication of all devices and users on a network. Here, we dive deeper into what ZTNA solutions are and how they stand to benefit companies that implement them. What Is Zero Trust Network Access (ZTNA)?

Micro-Entry

Micro-Entry Data Breach Breach Cybersecurity

Protecting Customer Data: Key Principles Every Company Should Know

VISTA InfoSec

MARCH 28, 2024

Access Control Implement strict access controls to ensure only authorized personnel can access customer data. More importantly, regularly update your software to patch security vulnerabilities and conduct periodic security audits to identify and rectify potential weaknesses in your system.

Data Breach

Data Breach Regulatory Compliance Breach Encryption

Nominations Now Open for SFF 2024 Fintech Excellence Awards

Fintech News

JULY 8, 2024

The Monetary Authority of Singapore (MAS) and the Singapore Fintech Association (SFA) have opened nominations for the Singapore Fintech Festival (SFF) Fintech Excellence Awards 2024. Now in its ninth year and supported by PwC Singapore, the awards aim to recognise innovative fintech solutions from both corporates and individuals globally.

FinTech

FinTech Financial Inclusion Authorization Returns

Hex Trust Receives MAS’ Initial Approval for Crypto Payment Services License

Fintech News

JULY 23, 2024

Hex Trust, a Hong Kong-based digital asset custodian, announced it has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This license will allow Hex Trust to offer regulated Digital Payment Token (DPT) services in Singapore, including custody and OTC trading of DPTs.

Payments

Payments Consumer Protection Authorization On-Demand

Minimal Impact to Singapore FIs from Global Microsoft Outage, Says MAS

Fintech News

JULY 21, 2024

The Monetary Authority of Singapore (MAS) has reported that major financial institutions in Singapore experienced minimal or no disruption to customer services and key operations following a global IT system outage. MAS had asked these institutions to report the impact of the outage.

Settlement

Settlement Cybersecurity Authorization Addressing

MAS Weighs In on Allianz-Income Deal, Focus on Consumer Protection

Fintech News

AUGUST 6, 2024

Minister Chee stated that his focus would be on the regulatory perspective of the Monetary Authority of Singapore (MAS). Last month, Allianz had announced plans to acquire a 51% stake in Singapore’s Income Insurance in a deal valued at approximately SG$ 2.2 billion (EUR 1.5 billion).

Consumer Protection

Consumer Protection Consumer Risk Management Best Practices

PCI DSS Requirement 9 – Changes from v3.2.1 to v4.0 Explained

VISTA InfoSec

MARCH 5, 2024

We will explore these changes in detail, helping you understand the processes and mechanisms for restricting physical access to cardholder data, how physical access controls manage entry into facilities and systems containing cardholder data, and how physical access for personnel and visitors is authorized and managed. PCI DSS v4.0

PCI DSS

PCI DSS Procedures Assessments Checks

Squirro CEO Dorian Selz Honored at 2024 Singapore Fintech Festival

Fintech News

NOVEMBER 14, 2024

Organized by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA), the award highlights outstanding contributions to the financial technology industry. Thank you to the entire Singapore Fintech Association team and the Monetary Authority of Singapore for the fantastic event and work you do!

FinTech

FinTech AI Cross-Border APACS

BIS: Stablecoins Offer Promise, but Need Consistent Regulation

Fintech News

APRIL 10, 2024

Authored by Juan Carlos Crisanto , Johannes Ehrentraud , and Denise Garcia Ocampo , this report underscores the increasing prominence of stablecoins in the financial landscape, pointing out their potential to mirror the value of fiat currencies.

Stablecoins

Stablecoins Regulations Digital Currency Risk Mitigation

MAS Reiterates Robust Controls on Cross-Border Payments to Combat Scams

Fintech News

AUGUST 7, 2024

Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong has reiterated the Monetary Authority of Singapore’s (MAS) ongoing efforts to combat cross-border payments scams. Key among these measures are a default transaction notification threshold of S$100 or lower and a daily transaction limit of no more than S$1,000.

Cross-Border Payments

Cross-Border Payments Cross-Border Scams Transaction Limits

MAS Grants Gemini In-Principle Approval for Crypto Payment License

Fintech News

OCTOBER 29, 2024

Crypto exchange Gemini has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This approval allows Gemini to provide cross-border money transfer and digital payment token services in Singapore.

APACS

APACS Cross-Border Regulatory Compliance Payments

FCA takes next steps in developing regulated crypto regime

Finextra

DECEMBER 16, 2024

The UK's Financial Conduct Authority has set out its latest steps to improve the integrity of the UK's crypto market.

Regulations

Regulations Authorization

Singapore and China to Begin e-CNY Pilot, Explore Cross-Border Payment Linkage

Fintech News

DECEMBER 6, 2023

Leong Sing Chiong Leong Sing Chiong, Deputy Managing Director (Markets and Development), Monetary Authority of Singapore (MAS) said, “It has been a fruitful year of financial cooperation between Singapore and China.

Cross-Border Payments

Cross-Border Payments Cross-Border CBDC Payments

How to Improve Compliance with Multilingual Cybersecurity Resource

VISTA InfoSec

JULY 17, 2024

Establish protocols for communicating with external parties, such as law enforcement, in multiple languages: Knowing how to quickly share info with authorities in various countries can speed up response times. Conduct drills and simulations in different languages : Practice helps your team work smoothly under pressure.

Cybersecurity

Cybersecurity Compliance Encryption Best Practices

MAS Taps Global Experts for New Cyber and Tech Resilience Panel

Fintech News

SEPTEMBER 25, 2024

The Monetary Authority of Singapore (MAS) to enhance the financial sector’s resilience against both cyber threats and technology disruptions. Replacing its previous Cyber Security Advisory Panel formed in 2017, MAS has established the Cyber and Technology Resilience Experts (CTREX) Panel.

Cybersecurity

Cybersecurity Authorization Visa Risk

OCBC and Land Transport Authority Pilot Blockchain Payments for Construction

Authorized payment scams climb in US

BLIK Romania S.A. Obtains Authorization for the Operation of the BLIK Payment System from the National Bank of Romania

Webinars

Reducing Fraud and Amping up Authorizations: Worldpay and Capital One Share Transaction Data to Optimize Payments

How to Find and Test Assumptions in Product Development

Banque de France and Monetary Authority of Singapore complete post-quantum cryptography trial

Aspire Receives in-principle Approval for Major Payment Institution License From Monetary Authority of Singapore

Neonomics Files Complaint With the Competition Authorities Over Anti-Competitive Practices in Norway’s Payments Market

Monetary Authority of Singapore Unveils Plans to Enable Industry-Wide Adoption of Tokenisation

Monetizing Analytics Features: Why Data Visualizations Will Never Be Enough

Zelle, big banks challenge senators on scam reimbursements

UK Financial Conduct Authority plans to reform safeguarding rules for e-money and payment institutions

Chip maker launches probe into data theft amid cybersecurity concerns

Data Breaches 101: What They Are And How To Prevent Them

Singapore warns banks to prepare for quantum computing cyber threat

Data Protection Officers and Their Key Responsibilities

Singapore to Launch Two New e-Payment Solutions in Mid-2025 to Phase Out Cheques

Singapore Ramps Up Anti-Money Laundering Measures After S$3 Billion Bust

Starling Bank fined £29m for 'shockingly lax' AML screening

What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Singapore Reports S$6.7 Million in Losses from Rising Gov’t Impersonation Scams

Neonomics files complaint over anti-competitive practices in Norway's payments market

FCA charges reality TV stars over 'finfluencer' campaign

MAS-Led Forum Conducts Cloud Outage Exercise in Response to Growing Risks

Gan Kim Yong to Take Over as MAS Chairman From Lawrence Wong

‘Finfluencers’ Must Be Licensed When Providing Financial Advice, Says MAS

German Central Bank Joins MAS-Led Project Guardian

BIS Completes Project Mandala, Automating Cross-Border Transaction Compliance

Crypto Payments in Singapore Near US$1 Billion, Fueled by Stablecoin Adoption

Understanding Zero Trust Network Access and Why Needs It

Protecting Customer Data: Key Principles Every Company Should Know

Nominations Now Open for SFF 2024 Fintech Excellence Awards

Hex Trust Receives MAS’ Initial Approval for Crypto Payment Services License

Minimal Impact to Singapore FIs from Global Microsoft Outage, Says MAS

MAS Weighs In on Allianz-Income Deal, Focus on Consumer Protection

PCI DSS Requirement 9 – Changes from v3.2.1 to v4.0 Explained

Squirro CEO Dorian Selz Honored at 2024 Singapore Fintech Festival

BIS: Stablecoins Offer Promise, but Need Consistent Regulation

MAS Reiterates Robust Controls on Cross-Border Payments to Combat Scams

MAS Grants Gemini In-Principle Approval for Crypto Payment License

FCA takes next steps in developing regulated crypto regime

Singapore and China to Begin e-CNY Pilot, Explore Cross-Border Payment Linkage

How to Improve Compliance with Multilingual Cybersecurity Resource

MAS Taps Global Experts for New Cyber and Tech Resilience Panel

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