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When the Hong Kong subsidiary of a US firm gets phished for $47 million, treasurers laugh, then check their control processes.
Proposals to regulate online payments have dented ambitions of non-bank providers, but unregulated systems benefit no one.
Banks have been experimenting with Ripple’s technology, which could make payments far more efficient, but a recent report questions whether it can handle larger volumes.
Three regional banks are gearing up to open their branches in Myanmar – a symbolic and political move that has been pushed through ahead of the country’s elections, CT understands.
Regulatory roundup: Mandatory rupiah use is in effect, with grace measures; Singapore plots M&A rule changes; India offers up new interbank benchmark