Oct 25, 2:44 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Ranjitha Shastry 10/25/18 AT 2:38 AM Financial Services Agency (FSA), Japan's financial regulator, has given approval for the country's cryptocurrency industry to regulate itself. A formal announcement on this was made on the Japan Virtual Currency Exchange Dealers Association (JVCEA) website Wednesday. The FSA approval gives the association rights to set rules to safeguard investor assets, prevent money laundering, and give operational guidelines.The JVCEA in its announcement said it had received a certification as an "accredited funds settlements corporation" from the FSA, explaining that its self-regulatory powers would come into effect from Wednesday. The JVCEA originally applied for self-regulatory status in the third quarter of 2018. "We have received certification from the Financial Services Agency as a settlement company association... In … [Read more...] about Japan’s Financial Regulator Approves Self-Regulation For Cryptocurrency Industry
Anti money laundering certification
Agro-forestry-fishery exports generate 25.7 billion USD in 8 months The agro-forestry-fishery sector raked in 3.13 billion USD from exports in August, raising the total value in the first eight months of this year to 25.7 billion USD, up 7.3 percent year-on-year. According to the Ministry of Agriculture and Rural Development, the best performers in the period included rice, fruit and vegetables, key forestry products and seafood. Exports to major markets like the Association of Southeast Asian Nations (ASEAN), the Republic of Korea (RoK), China, the US and Japan increased significantly over the past eight months. The country exported about 4.4 million tonnes of rice worth 2.2 million USD between January-August, up 6.8 percent in volume and 22.1 percent in value from the same period last year. In August alone, 441,000 tonnes valued at 209 million USD was shipped abroad. China remained Vietnam’s largest rice importer, making up 24.7 percent of the market … [Read more...] about BUSINESS NEWS IN BRIEF 2/9
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8
NEW YORK--(BUSINESS WIRE)--May 18, 2018--Risk management is a core competency for AML professionals, and the need to track evolving regulatory expectations is a key component in defining an organization’s risk management profile. This year’s ACAMS 6th Annual AML Risk Management Conference will focus on the applicable solutions needed to strengthen institutional risk management strategies, tackle emerging risk vulnerabilities and meet regulatory compliance challenges. The conference, centered on the theme “Managing Risk Management’s New Era,” will take place at the New York Marriott Marquis, June 8, 2018.“Compliance professionals must know how to manage risk commensurate with their financial institutions’ business lines and risk appetite, and they have to know when to steer their institutions away from inappropriate risk,” said Kieran Beer, director of editorial content at ACAMS. “This conference is all about bringing together … [Read more...] about ACAMS 6th Annual AML Risk Management Conference
It is easy to take the ease with which we prove our identity for granted. Even the most basic tasks, from booking a flight to registering with a doctor, require some form of identification. And as the digital world continues to dominate much of our lives, digital footprints are providing an additional layer of verifiable identity, with use of mobile data and analytics becoming mainstream.But when it comes to opening a bank account, stringent regulatory requirements require a wider variety of proofs than some people have.Strict requirements to stop fraudstersTo comply with various government regulations, financial institutions need to be able to verify the identity of account holders, and thus a lack of sufficient documentation or proof of identity can be a serious bar to opening a bank account. And ID verification is becoming more codified in the wake of new regulations.The Second Payments Service Directive (PSD2) in Europe, for instance, states that the identity of an account holder … [Read more...] about The Great Unbanked – do my files look thin in this?