International

Fintech / Regtech

BIS Launches GenAI Project to Improve ‘Inflation Nowcasting’

By Manesh Samtani | 20/11/2024

Project Spectrum will use GenAI to automatically categorise billions of individual product descriptions and price observations to improve inflation nowcasting.

AML / KYC

Singapore: $1.4b from Overseas Suspects Surrendered to State

By Nithya Subramanian | 20/11/2024

Police said 15 of 17 suspected money launderers who fled Singapore agreed to surrender assets to end the cases against them.

Capital / Liquidity

FSB Urges G20 Leaders to Fully Implement Agreed Reforms

By Mark Johnston | 20/11/2024

FSB Chair Klaas Knot emphasises the importance of addressing financial system vulnerabilities, including through the full and timely implementation of agreed reforms.

Sanctions

OFAC Sanctions Israeli Group Over West Bank Violence

By Editors | 20/11/2024

Amana is the largest entity targeted with US sanctions for violence in the occupied West Bank by Israeli settlers.

Market Infrastructure

ESMA Proposes 11 October 2027 for Migration to T+1 Settlement

By Manesh Samtani | 19/11/2024

ESMA says 11 October 2027 is the optimal date for the transition, and that it must be coordinated with other jurisdictions in Europe.

Fintech / Regtech

FSB Flags Growing Risks of AI Adoption in Financial Services

By Thisanka Siripala | 19/11/2024

New FSB report identifies AI-related vulnerabilities in the financial sector that can potentially increase systemic risk.

Sanctions

Australian Court Upholds Sanctions Ruling in Alumina Dispute

By Editors | 18/11/2024

The judgment suggests that a sanctioned person can have a shareholding of far less than 50% in a company for it to be considered sanctioned.

Sanctions

OFAC Targets Syrian Group Funding Iran’s Quds Force, Houthis

By Editors | 18/11/2024

OFAC sanctions target 13 vessels and companies in Lebanon, Panama, Iran, and the Marshall Islands that own or manage the vessels.

Sanctions

OFAC Penalises MetLife Subsidiary for Violating Iran Sanctions

By Editors | 18/11/2024

The insurer issued group medical and life insurance policies, collected premiums, and paid claims to schools and entities in the UAE and owned by Iran’s government.