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FCA Consults On Financial Crime Updates
The UK's Financial Conduct Authority (FCA) has opened a new consultation focused on financial crime guide updates that targets all FCA-supervised firms.
The consultation aims to gather feedback on proposed amendments to the FCA's Financial Crime Guide, and covers areas such as sanctions, proliferation financing and transaction monitoring.
Additionally, the FCA intends to incorporate references to crypto-assets and its flagship Consumer Duty policy.
Stakeholders have until June 27 to respond and can do so via written form, email or an online form.
RBI Shuts Down Unauthorised Prepaid Wallet Provider
The Reserve Bank of India (RBI) has requested that TalkCharge Technologies discontinue its prepaid wallet service due to lack of authorisation from the central bank.
The RBI initially demanded that TalkCharge shut down its wallet within 15 days of receiving a cease and desist order, but this was extended to 45 days as per TalkCharge’s request. The RBI also demanded that all balances are returned to customers.
TalkCharge should have applied for and obtained a Prepaid Payment Instruments (PPI) licence from the RBI to offer the digital wallet product.
The central bank is urging Indian consumers to check its list of authorised providers before signing up to a new PPI service.
