According to recent data from UK Finance, losses from approved push payments fraud surpassed losses from card fraud for the first time in H1 2021. Unauthorized frauds, especially using payment cards, have accounted for the majority of fraud losses in past years. However, this year, thieves concentrated their efforts on APP fraud, in which a consumer is misled into authorizing a payment to a criminal's account. -- Read the full article here.
Fintechs are being urged to participate in data gathering for the Cambridge Centre for Alternative Finance (CCAF), World Bank, and World Economic Forum's Global Covid-19 FinTech Market Impact & Industry Resilience Study before the October deadline. The study, now in its second year, aims to provide more insight into the short to the medium-term impact of the global pandemic on fintech, as well as how they have performed in the face of global and local market conditions, what
From two Papa John’s pizzas worth 10,000 BTC in 2010 to around $40,000 to 1 BTC, bitcoin has come a long way. And not just the father of cryptocurrencies, other tokens, such as Dogecoin - thanks to Elon Musk, are also gaining traction this year. Bitcoin has been around since 2009 and it never really picked up its phase right away. More than ten years later, the technology that runs it - blockchain, along with other tokens claiming to be “the next generation” of cryptos came i
The European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), and the European Insurance and Occupational Pensions Authority (EIOPA) have released their joint risk assessment report for 2021. The study observes that the economic recovery has a bright outlook, but that expectations remain unclear and unequal among member states. Rising debt levels, rising asset values, inflation expectations, investor risk-taking, and financial interconnectivity c
The rise of RegTech has been a direct response to the constantly evolving regulatory landscape. The industry is continuously innovating and staying one step ahead, which can be challenging for any company that wants to remain compliant. On the other hand, Blockchain is an emerging technology that holds significant promise in transforming this space by making it more efficient and cost-effective while also providing greater transparency for regulators. In this article, we will
The final framework reduces the minimum market cap necessary for a SPAC listing from S$300 million recommended in SGX's March consultation to S$150 million. “SGX’s SPAC framework will give companies an alternative capital fundraising route with greater certainty on price and execution. We want the SPAC process to result in good target companies listed on SGX, providing investors with more choices and opportunities. To achieve this, you can expect us to focus on the sponsors’
Two of the biggest cryptocurrency exchanges, Binance and BitMEX, have come under regulatory scrutiny, there appears to be a lack of coordinated crypto supervision in the United States, Europe, and Asia. Governments all around the world are taking note of the cryptocurrency sector, which is growing in size and enabling a lot of risk-taking. - Read the full article here.
The financial industry is changing. As the global economy becomes more and more digital, we are seeing a trend towards decentralized finance. Blockchain technology is making it easier than ever to invest money without needing to trust in third parties like banks or other institutions, which can be slow and corruptible. This article will explore decentralization, blockchain, and how it will change traditional banks, and how DeFi can relate to RegTech. Entering Decentralization