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Victims of an investment fraud scheme in China have sought to recover USD 4.3 billion in Bitcoin held by the United Kingdom’s Government.
compliance, fraud management, fraud detection, cryptocurrency, crypto, crypto asset, Bitcoin
The Industrial and Commercial Bank of China (ICBC) has agreed to pay around USD 32 million to settle investigations related to compliance issues in New York.
AML, compliance, regulation, banks
The Russian and Indian Governments have gotten closer to an agreement to have cards based on Russia’s Mir payment system be accepted at ATMs and POS in India.
Russia Ukraine War, financial sanctions, UPI, cross-border payments
Credit Bank of Moscow - MKB and Bank DOM.FR have announced that they are preparing to issue UnionPay cards starting with Q1 2023.
credit card, expansion, Issuer, financial sanctions, card scheme
State-owned Chinese banks, including Agricultural Bank of China (ABC), China Construction Bank (CCB) and Industrial and Commercial Bank of China (ICBC) have added smart management to the digital renminbi wallets.
product upgrade, e-wallet, digital banking, CBDC, digital currency
The Paypers has compiled thorough research on the financial sanctions imposed on the Russian Federation in the last two weeks. We aimed to help create a clearer picture of the complex economic machinations that the global payments, banking, and ecommerce ecosystems are faced with
Russia Ukraine War, European Commission, Visa, MasterCard, American Express, central bank, financial sanctions
Jay Kie Tan, Head of Business Development & Strategic Partnerships APAC at Radar Payments, elaborates on the advantages that banks could benefit from by embracing ecosystems
Radar Payments, Open Banking, Open Banking Ecosystem, banks, marketplace
The asset management subsidiaries of Industrial and Commercial Bank of China (ICBC) and Goldman Sachs have partnered for the establishment of a joint venture.
partnership, Goldman Sachs, risk management, wealth management, fintech
Eight commercial Chinese banks may be working on their own digital yuan wallets or banking platforms that can interoperate with the token.
China, banking, digital wallets, CBDC, digital yuan, online banking, digital banking
Mobile payments tool Huawei Pay has been launched in Malaysia through a partnership with UnionPay International and Industrial and Commercial Bank of China (ICBC).
Huawei Pay, expansion, ICBC, Malaysia, ICBC UnionPay Credit Cardholders, Asia, APAC, mobile payments, e-wallet, UnionPay
National Payments Corporation of India, NPCI, retail payments, banks, payments , India
SMEs in financial distress because of the Covid-19 pandemic will be able to access the Sole Proprietors and Partnerships (SPP) Scheme and Extended Support Scheme - Customised (ESS-C) to restructure credit facilities and debts owed to multiple lenders.
SMEs, finance, COVID-19, banks, loans, SMEs, lending, repayments
ICBC Singapore, UnionPay, product launch, ICBC UnionPay Kylin Debit Card, ATM, China, Singapore, dual currency, debit card, e-banking
Chinese Central Bank Digital Currency (CBDC) will soon be tested in ‘Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei region, and Yangtze River Delta region’ according to China’s Ministry of Commerce.
central bank digital currency, CBDC, China, digital yuan, Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, digital wallet app, accounts, money, payments , money transfer
WeChat Pay, launch, Turkey, China, tourists, merchants, mobile payments, online payment
Huawei Mobile Services has partnered with China-based financial services company UnionPay to launch its mobile payment service – Huawei Pay, in Thailand.
Huawei, Huawei mobile services, Thailand, UnionPay, partnership, NFC payments, mobile payments, Asia, APAC, wallet app
Industrial and Commercial Bank of China, ICBC, New Zealand, banks, banking, Reserve Bank
The Association of Banks in Singapore has announced will give away USD 500,000 as a reward to SMBs that sign up for PayNow, in a drive to encourage greater use of digital payments.
PayNow, QR payments
Ant Financial and Industrial and Commercial Bank of China have announced a collaboration as part of a strategic partnership unveiled in December 2019.
Ant Financial, Industrial and Commercial Bank of China, ICBC, China, Asia, APAC, online payments, financial technology, Alipay, payment collection, QR payments, merchants
Alibaba, Ant Financial, and ICBC have signed an agreement to fully enhance their strategic cooperation, thus promoting the wider use of digital technology in financial services.
ICBC, Alibaba, Ant Financial, partnership, China, digital technology, financial services