International

Emerging Prudential Risks

BIS Paper Calls for Stronger Oversight of Non-bank Retail Lenders

By Mark Johnston | 17/03/2024

The paper proposes a three-pronged regulatory approach to help guide the prudential oversight of NBFI retail lenders and mitigate risks.

PEPs & Sanctions

Russia Imposes New Personal Sanctions on 227 US Citizens

By Editors | 17/03/2024

The sanctions target several current and former State Department officials, along with journalists, researchers, and members of the business community.

PEPs & Sanctions

OFAC Targets Another Vessel Over Iran Commodity Shipments

By Editors | 17/03/2024

The sanctions target a Panama-flagged vessel which OFAC says headed to China carrying Iranian commodities received on behalf of a Houthi financial facilitator.

PEPs & Sanctions

G7 Warns of Sanctions if Iran Delivers Missiles to Russia

By Editors | 17/03/2024

If Iran delivers ballistic missiles to Russia, Iran Air flights to European cities could be suspended, among other unspecified measures.

ESG Data

BIS Project to Address Scarcity of Scope 3 Data

By Manesh Samtani | 15/03/2024

Project Symbiosis aims to address the lack of comprehensive emissions data from SMEs that are part of larger supply chains.

AI Risk & Governance

Artificial Intelligence Act Passed by European Parliament

By Mark Johnston | 15/03/2024

Members of Parliament voted to adopt the final text of the EU AI Act, which will seek to promote AI innovation while also defending against risks.

Anti-Money Laundering

GCFFC Offers Guidance on Using AI to Fight Financial Crime

By Manesh Samtani | 15/03/2024

The guidance describes how FIs are using AI to fight financial crime and identifies opportunities to improve AML/CFT effectiveness.

Climate Risk

Net-Zero Banking Alliance Issues Revised Guidelines

By Ranamita Chakraborty | 15/03/2024

The revised guidelines require NZBA members to set climate targets for their capital markets activities for the first time.

PEPs & Sanctions

OFAC Penalises Swiss Bank for Apparent Sanctions Violations

By Editors | 15/03/2024

OFAC said EFG International caused US firms to process 873 securities-related transactions on behalf of sanctioned individuals.