Fintech News

FEBRUARY 18, 2024

Moving fast without compromising compliance As a Major Payment Institution licensed by Singapore’s Monetary Authority, dtcpay operates in a complex regulatory environment. This includes the development of proprietary technologies such as workflow builders, liveness and deepfake detection, and mechanisms to adhere to the travel rule.

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Verification Travel Rule Multi-Currency Compliance 117

Fintech News

FEBRUARY 27, 2024

The Hong Kong Monetary Authority (HKMA) proposed stablecoin legislation , driving innovation with projects like the tokenised green bond and the e-HKD pilot. This bill , among other changes, entails the transfer of regulatory authority for cryptocurrencies from Bappebti, the commodities regulator, to OJK, the securities regulatory body.

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APACS Regulations Stablecoins Cryptocurrency 127

Fintech News

JULY 17, 2024

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The United Arab Emirates has amended Federal Decree-Law No. (20)

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Money Laundering Law Enforcement AML Non-Bank 107

Neopay

NOVEMBER 27, 2023

The European Banking Authority (EBA) has launched a public consultation on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes.

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Money Laundering Consulting Finance Travel Rule 52

PYMNTS

OCTOBER 28, 2020

The Federal Reserve Board and The Financial Crimes Enforcement Network (FinCEN) are looking for input on a potential regulation that would amend recordkeeping and travel rule regulations under the Bank Secrecy Act. The two organizations have joint authority on the recordkeeping rule and have together found appropriate changes.

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ACH Cybersecurity Fincen Travel Rule 40

PYMNTS

DECEMBER 10, 2020

Department of the Treasury, announced in November 2019 that it would begin strictly enforcing the “travel rule” for cryptocurrency exchanges. This rule forces exchanges to verify customers’ true identities as well as identify any senders and recipients of cryptocurrency transfers worth $3,000 or more.

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AML Cryptocurrency Money Laundering Compliance 88

Neopay

JANUARY 25, 2024

The European Banking Authority (EBA) on 16th January extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to crypto-asset service providers (CASPs). The amending Guidelines will apply from 30 December 2024.

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Service Provider Risk Due Diligence Money Laundering 52

Fintech News

JANUARY 24, 2024

Per FATF (Financial Action Task Force) standards, compliance with the Travel Rule mandates DPT services to share client information for transactions, ensuring further safety in digital transfers. Entities providing DPT services before 28 January 2020 are temporarily exempted from licensing under specific conditions.

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Service Provider Cryptocurrency Payments Institute Blockchain 98

Neopay

MAY 7, 2024

The Financial Conduct Authority (FCA) is proposing significant updates to its Financial Crime Guide. This includes references to the travel rule and updates to sections on risk assessment and fraud. These updates are particularly focused on three key areas: sanctions, proliferation financing, and transaction monitoring.

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Financial Crimes Crime Risk Assessment Money Laundering 52

Global Fintech & Digital Assets

JANUARY 8, 2024

By Simon Hawkins and Adrian Fong On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) released a consultation paper on their legislative proposal for a regulatory regime governing stablecoin issuers in Hong Kong (Consultation Paper).

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Stablecoins Consulting Issuers Non-Bank 59