The cost of fraud across the Asia Pacific (APAC) region last year rose to 3.51 and 3.87 times the amount of actual lost transaction values due to the rise of fraudulent transactions. These figures, which came from the LexisNexis® True Cost of Fraud Study from LexisNexis® Risk Solutions for the Phili
GOVERNMENT and industry leaders from the Philippines and Singapore kicked off “Digital Pilipinas: A Closer Look at the Philippine Sandbox,” a movement aimed at influencing reforms via technology and innovation across local and global arenas. Monetary Authority of Singapore (MAS) Chief FinTech Officer Sopnendu Mohanty, Trade Secretary Ramon M. Lopez,…
Published July 24, 2021, 9:22 AM
‘Digital Pilipinas: a Closer Look at the Philippine Sandbox’, a movement that aims to influence change through technology and innovation across the local and global spheres was launched on July 22 by government and industry leaders from both the Philippines and Singapore.
‘Digital Pilipinas: a Closer Look at the Philippine Sandbox’
Monetary Authority of Singapore (MAS) Chief FinTech Officer Sopnendu Mohanty, Department of Trade and Industry (DTI) Secretary Ramon Lopez, and Department of Finance (DOF) Secretary Carlos Dominguez all expressed their support for a more technologically-capable and innovation-driven digital landscape in the Philippines and across the ASEAN region.
Published March 13, 2021, 11:41 AM
The Bangko Sentral ng Pilipinas (BSP) and the Philippine Digital Asset Exchange (PDAX) are supporting the creation of a crypto-and-fintech sandbox that intends to spur innovation and technological advancement in this space. The move is also in response to the growing public interest in alternative investment platforms such as cryptocurrency, notably due to the clear shift from traditional to digital financial services.
During the recent virtual forum “The Philippine Financial Sector: Policy Perspectives and Trends,” which was held by the European Chamber of Commerce in the Philippines (ECCP) and the Fintech Philippines Association (FPA), Nichel Gaba, Founder and CEO of PDAX, one of the country’s largest and pioneering cryptocurrency exchanges, explained the importance of building what he called a regulatory sandbox for the digital asset space: “In a regulatory framework, a startup or an entity can test an idea rolling out a product to the
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