International

Data Privacy

OECD Issues Policy Paper on Open Finance Data Sharing

By Mark Johnston | 28/11/2023

The new paper analyses the potential impacts of data sharing frameworks in the financial sector and provides recommendations for their implementation.

Anti-Money Laundering

13 FIUs Establish Task Force to Disrupt Terrorist Financing

By Editors | 28/11/2023

The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.

Emerging Prudential Risks

FSB Publishes 2023 List of Global Systemically Important Banks

By Editors | 28/11/2023

The FSB added Bank of Communications to the G-SIBs list and removed Credit Suisse and UniCredit. Three banks moved to a higher capital buffer bucket.

Fraud, Scams & Cybercrime

Montenegro Court Approves Extradition of Terra Founder

By Mark Johnston | 27/11/2023

The court said both South Korea and the US have met Montenegro’s legal requirements for Do Kwon’s extradition.

Nature & Biodiversity

UNEP FI Launches Nature-related Guidance for Banks

By ESG Investor | 24/11/2023

The guidance aims to help banks align with the Global Biodiversity Framework and address nature and biodiversity loss.

Climate Risk

IAIS Consults on Climate Risk Supervisory Guidance

By ESG Investor | 23/11/2023

The consultation covers market conduct supervision and climate scenario analysis in the insurance sector.

Market Abuse

EU Commission Fines Rabobank for Participating in Bond Trading Cartel

By Editors | 23/11/2023

Deutsche Bank also participated in the cartel but was not fined because it revealed the cartel to the Commission under its leniency programme.

Anti-Money Laundering

Basel Institute on Governance “Cautiously Optimistic” Regarding Crypto Risks

By Mark Johnston | 23/11/2023

Criminal funds flowing through blockchains are “decreasing constantly” as a proportion of total value. Regulations in the world’s financial centres are becoming stronger.

PEPs & Sanctions

FinCEN Hosts US Banks for Discussion on Russian Export Controls Evasion

By Editors | 23/11/2023

Readout from FinCEN forum includes a list of guidance documents to help financial institutions detect and report transactions related to suspected export controls evasion.