Managers of Wealth Fintech

Understanding the digital VAT

Several services are listed as likely to become liable to VAT collections once enforcement is in effect.

A large bank in Kenya suffered an internal attack and lost about $4 million. USDT was used for money laundering.

People familiar with the matter said that the gang manipulated the bank's card management system, created unauthorized virtual cards and linked them to mobile wallets.

ECCB governor backs call for digital ID system to streamline banking services

The governor explained that the absence of such a system has created challenges in implementing various financial initiatives, including the recently launched Credit Bureau and government payment systems.

Singapore's fintech firm Finmo secures UK EMI license, expands global footprint

The license also enables Finmo to issue IBANs, hold safeguarded client funds locally, and integrate directly with UK clearing systems such as Faster Payments and Clearing House Automated Payment System.

Linqto customers sue ex-CEO after fintech company's bankruptcy

The two plaintiffs seek to represent a class of customers who purchased securities from Linqto.

Singapore Fintech Finmo Expands into UK with New Payment License

The EMI license allows Finmo to offer electronic money issuance, fund transfers, and FX services while establishing the UK as a core operational hub.

Mayer Brown advises Omni Partners and Infoshare+ on acquisition of Sava Technology

Omni is a London-based investment management and private equity investor focused on mission-led, fast growing and profitable businesses

After Louis lost $109k to scammers, banks are finally combatting the 'flaw' the scammers used

The 24-year-old Sydney-based tradesman made two payments, but two days later received a message from the bank asking for settlement funds.

Katanox Gains FCA Approval to Expand Payment Services in the UK

Industry players have long cited fragmented systems, virtual credit card (VCC) failures, and manual accounting processes as costly and inefficient.

Qatar and Saudi Arabia further align digital and data partnerships

This development builds on a separate memorandum of understanding signed in April 2024 between Qatar’s Ministry of Communications and Information Technology and KSA’s Digital Government Authority.

Caceis gets green light for crypto services

MiCA is the EU’s regulatory framework for crypto-assets, designed to ensure investor protection and market stability.

Landmark EU tech rules holding back innovation, Google says

Google will also challenge its critics to back their claims with solid evidence demonstrating the costs and benefits of the regulations.

MAS to Revamp Product Sheets, Streamline Complex Product Rules for Retail Investors

The regulator plans to introduce a Product Knowledge Assessment, a self-check tool designed to gauge an investor’s understanding of product features and risks.

New Zealand Financial Markets Authority truns the spotlight on cryptocurrencies

When the investor then wants to withdraw funds, they are asked to first pay advance fees to cover taxes or commission.

MAS Fines Five Payment Firms S$960,000 Over AML/CFT Control Failures

All five institutions have submitted remediation plans and MAS said it will monitor their progress.

Data (Use and Access) Act 2025

DUAA is wide-ranging legislation and will impact other aspects of charities' and other organisations' data protection compliance.

FCA concludes financial advice TechSprint

These could include people who may be currently drawing down on their pension unsustainably, not saving enough for retirement or who have excess cash sitting in a current account.

FATF Updates Standards to Improve Financial Crime Detection on Payments

The changes aim to ensure clearer payment information to avoid fraud and errors

Maldives makes strides in digital ID as Taiwan faces scrutiny

The Maldives is also eyeing the possibility of using the digital ID legislation to crack down on illegal migrants flooding the tiny island nation.

Linklaters advises the Grand Duchy of Luxembourg on its first digital treasury certificates issued on the blockchain

The transaction, completed on 18 June 2025, marked Luxembourg’s first sovereign transaction fully on a blockchain platform.

Legal,Regulation,Tax & Compliance