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International
Payments & Settlements
Australia, US to Help Boost Correspondent Banking in Pacific
By Manesh Samtani | 11/07/2024
Australia pledged A$6.3mn in funding to help counter the decline in correspondent banking services in the Pacific.
PEPs & Sanctions
US: Two Men Plead Guilty to Russia Export Control Violations
By Editors | 11/07/2024
The two men shipped US-manufactured dual-use electronics to Turkey, Hong Kong, India, China, and UAE before they were rerouted to Russia.
Anti-Money Laundering
FATF Calls for Urgent Action to Regulate Gatekeeper Professions
By Manesh Samtani | 11/07/2024
Australia, China, the US, and South Korea scored the lowest on compliance with the FATF’s corruption prevention standards.
PEPs & Sanctions
Switzerland Expands Sanctions Against Russia
By Editors | 10/07/2024
The targets align with the EU’s 14th package, but measures targeting the energy, financial and goods sectors are still being examined.
Operational Risk
BCBS Consults on Principles for Managing Third-Party Risk
By Editors | 10/07/2024
The BCBS offers 12 high-level principles on the effective management and supervision of risks arising from third-party arrangements.
Anti-Money Laundering
Global Implementation of AML Measures for Crypto “Still Lagging”
By Manesh Samtani | 10/07/2024
The FATF says there has been “negligible improvement” in regulating virtual assets and “insufficient progress” in implementing the travel rule.
AI Risk & Governance
BIS to Explore Approaches for Monitoring Supply Chain Shocks
By Editors | 10/07/2024
BIS will use granular data, analytics and AI to improve monitoring of global supply chains and better assess their economic and financial impacts.
Cryptocurrency
Defunct Crypto Exchange Mt Gox Starts Repaying Creditors
By Editors | 09/07/2024
Mt. Gox was forced to close in 2014 after a major hack. Creditors have waited 10 years for repayments, which are now expected to be completed within 90 days.
Structural Regulation
US Treasury Proposes to Expand Jurisdictional Reach of CFIUS
By Editors | 09/07/2024
The proposed rule adds 56 military installations to the list of installations around which CFIUS has jurisdiction.
Credit Risk
BCBS Consults on Technical Amendments and New FAQs
By Editors | 09/07/2024
One amendment addresses an inconsistency in how “specialised lending” is defined between the SA and IRB approach to credit risk.
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