International

Climate Risk

IAIS Asks ISSB to Maintain Climate Focus

By ESG Investor | 27/08/2023

The IAIS said ensuring effective implementation of the climate standard is “more important than moving into new areas”.

Capital Adequacy

Bank AT1 Capital: Going Where?

By Jamie Lloyd Evans | 27/08/2023

Regulation Asia contributor, Jamie Lloyd Evans, explores the possibility of a policy change on AT1 capital in light of recent banking system distress.

Nature & Biodiversity

185 Countries Launch Global Biodiversity Framework Fund

By Editors | 25/08/2023

Canada and the UK are together providing about $160mn in seed money to set up the fund, which was first agreed in December 2022.

PEPs & Sanctions

Canada Sanctions Russian Military, Nuclear, Banking Sector Targets

By Mark Johnston | 24/08/2023

Canada sanctioned four individuals and 29 entities linked to Russia’s military, financial and nuclear sectors over the Ukraine war.

Clearing & Post-Trade

CPMI-IOSCO Takes Stock of CCP Practices for Addressing Non-default Losses

By Editors | 24/08/2023

CPMI and IOSCO intend to publicly consult on further guidance for CCPs on addressing NDLs arising from scenarios like system outages and cyber attacks.

Fraud, Scams & Cybercrime

How AI Can Combat Financial Crime

By Ranamita Chakraborty | 24/08/2023

Industry experts tell Regulation Asia how the financial sector’s battle against sophisticated financial crimes has led to a greater reliance on artificial intelligence (AI) to detect fraud and maintain customer trust.

PEPs & Sanctions

North Korea Stole $200m in Crypto in 2023: TRM Labs

By Mark Johnston | 23/08/2023

TRM Labs describes how North Korea has evolved its on-chain laundering methodologies to evade sanctions, law enforcement scrutiny, and tracing capabilities.

Anti-Money Laundering

Wolfsberg Group Responds to FATF Consultation on NPO Standards

By Sanday Chongo Kabange | 23/08/2023

It says NPOs should be required to conduct their own risk assessments and deploy risk-based controls similar to those used by correspondent banks.

Cryptocurrency

BIS Paper Warns of Heightened Risks from Crypto in EMEs

By Manesh Samtani | 23/08/2023

Certain “risk catalysts” in emerging markets can strengthen the transmission channels through which risks from crypto markets can affect financial stability.