FINMA indicated it conducted this review because, when doing routine inspections, many institutions fell short regarding money-laundering risk analyses. FINMA did not name the banks in question but found the situation problematic as Switzerland is the world’s go-to for wealth management. The authority stated that: FINMA reviewed risk analyses of over 30 banks in spring…
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The Intergenerational Report shows the aged pension will decline from 2.3% of GDP to 2 per cent by 2062-63, even as other cost associated with an ageing population soar. Super is already easing the cost burden of the pension. APRA’s superannuation bulletin has confirmed that super funds already pay out more than double in benefits…
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As Fundrise did not require the influencers and newsletters to provide specific disclosures, the investment adviser went against US law. In its filing, the SEC specifically noted the lack of these disclosures in the Fundrise brochure. The company consented to pay a civil penalty of $250,000. In a statement, SEC commented: Fundrise consented to the…
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This move reflects TT’s expansion into multi-asset data and analytics as part of the diversification of new asset classes. It comes in the wake of the global capital markets technology platform’s establishment of its foreign exchange business line in June. This company has been a principal when it comes to solutions for listed derivatives. As…
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On 21 August in Bangkok, Southeast Asia’s second-largest economic hub, Thailand’s Digital Minister, Chaiwut Thanakamanusorn, stated: We are asking the court to close Facebook, not allowing it to provide services in Thailand if they let these fake pages scam people. They can’t do business like this. This reaction followed claims that over 200,000 people in…
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This joint venture plans to offer exclusive incentives and benefits to early-worm AI-based companies establishing a presence in Ras AL Khaimah. Those in the RAK DAO network will gain access to its partner’s AI ecosystem. This entails access to things such as services, toolkits, dApps, tech solutions and investment possibilities through grants programmes, venture capital…
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Spurs chose AstroPay, a leading fintech company in the global arena of digital payments, based on the scope of its loyalty and rewards platforms. This partnership launches a one-of-a-kind Spurs-branded prepaid card that will enable holders to unlock doors to unique benefits and rewards. Fans collect AstroPoints when using this prepaid card and other AstroPay…
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A world leader in payments, the company now finds its policies regarding this tokenisation initiative under the DOJ microscope. Visa confirmed that the department’s antitrust arm requested information on US-based debit card practices in May 2023. When using tokenisation technology, those with sensitive card numbers can use a token to make payments. This token is…
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Photo and video footage on social media showed cars and people lining up outside ATMs in various locations, such as Dublin and Lisduggan, among others, to scoop some “free” cash. Images of police guarding various pay points also did the rounds. Reportedly, the bank’s online app experienced a glitch that let customers transfer non-existent funds…
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The questionable news snippet surfaced via EQS, a German-based outfit that reports on financial news. It alleged that Ripplewood, an established New York-based investment company, wanted to source ChatGPT technology to plot market trends and drive investment decisions. An extract from this news release read: “Through the use of artificial intelligence, investors should benefit from…
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