International

PEPs & Sanctions

OFAC Sanctions More Companies, Vessels for Breaching Russia Oil Price Cap

By Editors | 03/12/2023

Latest sanctions target companies in the UAE and Liberia and three vessels in response to breaches of the G7 price cap on Russian oil.

Fraud, Scams & Cybercrime

UK Secures Pledges from Global Tech Firms to Tackle Online Fraud

By Sanday Chongo Kabange | 01/12/2023

Signatories pledge to block and remove fraudulent material from their platforms and services and to work closely with law enforcement.

Climate Risk

Four Banks and an Insurer Have Quit SBTi – Reports

By Editors | 01/12/2023

Standard Chartered, HSBC, Societe Generale, ABN Amro and Allianz have left the UN-backed Science Based Targets Initiative.

Emerging Prudential Risks

BCBS Consults on Climate Risk Disclosure Framework for Banks

By Manesh Samtani | 30/11/2023

The BCBS proposes to provide a common disclosure baseline for climate-related financial risks across internationally active banks.

Anti-Money Laundering

APG Report Calls for Stronger AML/CFT Response to Illegal Fishing

By Manesh Samtani | 30/11/2023

Governments have “low levels of understanding” on the ML/TF risks posed by illegal fishing, leading to poor AML/CFT responses.

CBDCs

BIS Publishes Findings from CBDC Project to Address Privacy, Security

By Manesh Samtani | 30/11/2023

The report says Project Tourbillon shows that it is feasible to implement payer anonymity and “quantum-safe blind signatures”.

Operational Risk

Banks Struggling to Implement Operational Resilience Standards: BCBS

By Manesh Samtani | 29/11/2023

The BCBS says full adoption of the Principles for Operational Resilience and revised Principles for the Sound Management of Operational Risk may take until at least 2025.

Operational Risk

Only Two G-SIBs Are Fully Compliant with BCBS 239

By Manesh Samtani | 29/11/2023

BCBS report suggests supervisors should consider more forceful measures to incentivise compliance with the principles for effective risk data aggregation and reporting.

Cryptocurrency

FSB Warns of Risks from Multi-function Crypto-Asset Intermediaries

By Manesh Samtani | 29/11/2023

The FSB calls for cross-border cooperation and enhanced information sharing to help regulate and supervise multi-function crypto-asset intermediaries operating globally.