The Latest Breaking News from KYC

Explore the evolution of Know Your Customer (KYC) regulations from manual processes to digital innovations, safeguarding financial systems globally.

India's prime stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), have halved the daily trading limit for shares of digital payments giant Paytm. Effective Monday, the new cap is set at 10%, down from the prior 20%. This decision trails a staggering $2 billion plunge…

NHAI announces that FASTags with incomplete KYC will be deactivated by banks after January 31, 2024.

CJI raises scenario of influential entities setting up persons with verified accounts to purchase electoral bonds for them to curry favour or enter into quid pro quo with ruling parties. Scheme allows corporate sector to conceal individual political donations from shareholders, promoting corruption & kickbacks. Petitioners argue right to know…

Hyderabad: A GST refund scam of over ₹42 crore uncovered by Commercial Taxes Dept. Investigation led to arrest of one person. Modus operandi was to show auto spare parts purchases, transportation, and assembling as electric bikes to claim 13% refund. Teams tracked accused using KYC details. Accused projected 5% GST…

Minister Kamalakar appeals to Union Minister Goyal to reconsider KYC regulations from humanitarian perspective, as it poses significant hurdle for Telangana residents, Gulf countries, and those working in cities like Mumbai. Majlis Bachao Tehreek leader Khan and Right to Food Campaign member Masood express concerns that exercise could lead to…

BSNL, AP Circle, is offering free digitalisation and 4G SIM upgradation services to customers across Andhra Pradesh. Customers can digitalise paper applications with KYC before Sept. 9, 2023. BSNL is introducing 4G tech. and 3G services will be interrupted. Free SIM upgradation available until Sept. 30, 2023. Customers can know…

Union Minister Ashwini Vaishnaw recently introduced revised norms for bulk procurement of SIM cards, as well as norms for registering the final point of sale by licensees. We explore the changes and why they were required.

Government-backed digital currencies are drawing critics from the left and right.

Just months after the FTX collapse, a US watchdog is suing Changpeng Zhao’s firm, the world’s biggest digital-asset market, over a slew of allegations that make jaw-dropping reading

One of the more complex corners of the technology industry businesses often refrain from touching is the cryptocurrency market. Built on a principle of a decentralised market, away from the prying eyes of central bodies or governments, and utilising blockchain technology to provide a clear and concise record of all…