The Australian Transaction Reports and Analysis Center (AUSTRAC) developed “A guide to preparing and implementing an AML/CTF program for your digital currency exchange (DCE) service business”. It provides information for DCE services on whether they need to register with AUSTRAC, their AML/CTF obligations and some areas of considerations while preparing their AML/CTF programs.
The Central Bank of Bangladesh released a study and policy paper on AML/CFT regulations and mobile money, with its second edition published in February 2018. It includes suggested policy recommendations to promote the effective and sustainable provision of MFS (mobile financial services) along with addressing financial inclusion goals.
In March 2018, the Central Bank of Nigeria released this regulation for bill payments with goals of facilitating a national payments system. Payment methods cover common payment instruments, automated clearing house. The regulation sets forth eligibility criteria for using a bill payment platform, a dispute resolution system and also provides a definition for a payment service provider (PSP).
The Central Bank of Nigeria issued a circular to banks and other financial institutions on virtual currency operation in Nigeria on January 12, 2017. It emphasizes the risks associated with virtual currencies and immediate measures that need to be taken by banks and financial institutions.
The Communications Authority of Kenya, in an attempt to clamp down on fake phones, has released a draft document on proposed minimum features and technical specifications for mobile cellular devices to be sold in Kenya. Interested parties and the general public can submit their input before January 13 2018. Minimum standards include those for battery life, provision of headsets, and warranties.
The Reserve Bank of Malawi has issued a new Directive to provide a legal framework for interoperability among financial institutions. Recent advancement on financial technology is emphasized, and the role of Natswitch is highlighted in this directive.
The CBN in October 2017 issued a revised framework for BVNs, and also established a watch-list program for Nigerian Banking Industry to address the increasing incidences of fraud with a view to engendering public confidence in the banking industry.
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