07/18/2019
UK, Dutch Authorities Bust €24 Million Cryptocurrency Theft
Six suspects allegedly used ‘typosquatting’ to target over 4,000 victims in 12 countries.
Legal,Regulation,Tax & Compliance
07/17/2019
G7 finance ministers look to rein in tech giants at French meeting
The issue has become more vexed than ever in recent days as Paris defied U.S. President Donald Trump last week by passing a tax on big digital firms’ revenues in France despite a threat from him to launch a probe that could lead to trade tariffs.
07/17/2019
The future of regulation: AI for consumer good by Christopher Woolard
Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at The Alan Turing Institute's AI ethics in the financial sector conference (link is external).
07/17/2019
Treasury bars early access to pension money
The move will be a shocker to those who lose their jobs before they are 55-years-old. It will also stop employees — mostly millennials — who do not have a long-term view of employment, from accessing the pension billions.
07/17/2019
Mauritius – Playing in a tropical, Fintech sandbox
Graham Patrick, Senior Client Manager, based in Mauritius, explains why for the tech-savvy investor, Mauritius is an interesting place to watch right now.
07/16/2019
Plans for the PBC to increase involvement in FinTech development
The plan will be coordinated by the relevant government departments, and is said to outline the principles, development goals, key tasks and safeguard measures for the future development of these financial FinTech technologies.
07/16/2019
Eight Virtual Banks have been approved for operation in Hong Kong
The guidelines established by the HKMA will be vital in ensuring the legitimacy of the new firms, thus ensuring as much security as possible, but also will facilitate the promotion of financial inclusion within the Hong Kong wealth management industry, pr
07/15/2019
Deloitte Announces Enhancements To Digital Bank Asset
Built on the Salesforce Financial Services Cloud platform, Digital Bank is a pre-configured digital banking accelerator.
07/15/2019
Saudi Bank customers warned of online fraudsters
Those indulging in fraudulence will be fined up to SR2 million ($530,000) or given sentences of up to 3 years in prison
07/15/2019
U.S. proposes barring big tech companies from offering financial services, digital currencies
Even if it were to pass the full house, it would still have to pass the senate which would also likely be an uphill struggle.
07/15/2019
These recent data breaches generated huge fines, so here’s why your data processing agreements need to be watertight
The final amount of the fines may well be decreased in court.
07/15/2019
Signs Collaboration Agreement With 8 Banks on New Blockchain Platform
Seven major UAE banks, in addition to FAB, have joined the nationwide platform.
07/14/2019
Japan’s Top Regulators Sets Up Working Group Dedicated to Facebook Libra Coin
Things to be discussed during the meeting includes how the central bank will ascertain the better governance of digital assets like Libra.
07/14/2019
$32 Million Crypto Heist Halts Tokyo Exchange
Four years earlier, Tokyo-based MtGox exchange was shut down after some half a billion dollars in bitcoin disappeared from its virtual vaults.
07/12/2019
OCBC, police use tech to boost fight against financial crime
Project Poet was launched yesterday by Mr T. Raja Kumar, deputy secretary (international and training) at the Ministry of Home Affairs.
07/12/2019
Setting up a tokenised fund in Bermuda
These benefits of certainty and stability are attracting the best structured fintech companies and funds which are becoming part of the Bermuda fintech ecosystem.
07/12/2019
DLA Piper advises Jaja Finance on its £530m acquisition of Bank of Ireland’s UK credit card business
We are delighted to have advised Jaja Finance on this significant transaction
07/11/2019
US announces probe into France’s digital services tax
“The President has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce,” Lighthizer said.
07/10/2019
China's Central bank announces digital currency plans
"From the government's perspective, we pay more attention to its influence on financial services, monetary policy and financial stability," Wang said.
07/10/2019
Will Virtual Banks Benefit Foreign SMEs in Hong Kong?
This means e-commerce and technology companies – such as the Chinese company Xiaomi – will be allowed to provide banking services so long as they hold a license.