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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.
Banks are getting serious about biometrics, which will eventually spell the end of online banking passwords. However, treasurers must not be distracted by the newest technology.
Regulatory roundup: Mandatory rupiah use is in effect, with grace measures; Singapore plots M&A rule changes; India offers up new interbank benchmark