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Blog
Multi-Chain and Cross-Chain Technology
The goal of both multi-chain and cross-chain technology is the enabling of shared information and data transference of crypto assets to multiple blockchain networks. Depending on the volatility and incentive structure in the market, users will transfer their crypto assets from one blockchain to another using blockchain bridges. A blockchain is a destination which users […]
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Does Decentralised Finance Need Something More?
In 2019, the infamous Canadian cryptocurrency exchange – QuadrigaCX swindled more than USD 190 million from investors. This should have barred its co-founder, Michael Patryn, from being involved in the finance and crypto industry for the security of investors. Yet the decentralised finance (DeFi) platform has provided Michael Patryn with new opportunities, as it was […]
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The Future of RegTech: An Evolution
In 2021, Nelly Marion Evans Risco “The Nun” held 1 million USD worth of illicit funds in a Swiss bank account that was intended to fund terrorist activities carried out by The Shining Paths, a terrorist organisation that was responsible for approximately 60,000 deaths. Fortunately, Peruvian authorities were able to confiscate the assets before they […]
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The Unaccounted Price of Rising Online Fraud Cases
Technological advancement has brought convenience and countless other benefits to the lives of many, yet it has also increased the amount of potential risks that many individuals and businesses have to face. Cybercrime has risen to become one of the most reported forms of fraud, where it has incurred a hefty bill of USD 6 […]
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The Crypto Challenges that Lie Ahead
In 2021, the global crypto population rose from 106 million in January to 295 million in December, showing a vast increase of 178%. It is further predicted that the number of global crypto owners will reach 1 billion by the end of 2022. These large numbers denote the unprecedented growth of the crypto industry, which […]
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Regtank X Asia FinTech Awards (Director of the Year)
MEGAN LI, FOUNDER AND CEO OF REGTANK, NAMED ‘DIRECTOR OF THE YEAR’ BY ASIA FINTECH AWARDS 2022 16 September 2022 | Singapore Regtank’s CEO, Megan Li, has won the Director of the Year award at the Asia FinTech Awards 2022. Recognised for having a noteworthy impact on the organisation and wider FinTech ecosystem, Megan’s outstanding […]
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AML/CFT Screening Practices: How Regtank aligns with MAS
The recent release of the information paper from The Monetary Authority of Singapore (“MAS”) contains a thematic analysis of the performance of the various financial institutions (“FIs”) Anti-Money Laundering/Counter Financing of Terrorism (“AML/CFT”) name screening practices in 2021. Banks and financial companies primarily contributed to the insights gathered. Subsequently, from the analysis, those common gaps […]
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What is Know-Your-Transaction and Why is it Needed?
Compliance processes are continually enriched with new functions to combat varying emerging issues, further complicating the process. One fundamental pillar of the compliance process involves the Know-Your-Transaction (KYT) module. KYT is a methodology which provides organisations with critical analysis required to identify and reveal any suspicious fraudulent transactions conducted by customers or investors. This is […]
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The Cryptocurrency World as the New Hotspot for Crime
In February 2022, the United States Department of Justice reported their arrest of Ilya Lichtenstein and Heather Morgan, a husband and wife duo, for performing money laundering activities. The couple had attempted to launder 4.5 billion USD worth of cryptocurrency coins stolen from Bitfinex. This high-profile case is only the tip of the iceberg as […]
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Digital Onboarding: A Must-Know in Regulatory Compliance
The process of Digital Onboarding is not foreign to many. An individual would likely have experienced having to provide their personal information to organisations for education, employment, or even online purchases. As a frequent procedure undertaken by organisations worldwide, digital onboarding serves as an essential measure for compliance, especially in combating digital and financial frauds. […]
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