International

Climate Risk

EBA Initiates Consultation on Climate Risk Data Collection

By Editors | 24/07/2023

EBA initiates climate data consultation with EU banks for Fit-for-55 climate risk analysis in collaboration with ESAs, ECB, and ESRB.

Cryptocurrency

Worldcoin Crypto Project Officially Launches

By Editors | 24/07/2023

The project uses a small device called an “orb” to scan people’s eyeballs in order to generate a unique digital identity.

Cybersecurity

Banks Targeted by Open-Source Software Supply Chain Attacks

By Editors | 24/07/2023

Checkmarx detected the first known open-source supply chain attacks targeting the banking sector.

Fraud, Scams & Cybercrime

HK ADCC Prevented Nearly HK$12bn of Fraud Losses in Six Years

By Mark Johnston | 22/07/2023

HK’s Anti-Deception Coordination Centre has prevented HKD 11.79 billion from falling into the hands of fraudsters since the unit was set up about six years ago.

PEPs & Sanctions

Western Allies Announce New Sanctions to Deter Russia

By Manesh Samtani | 21/07/2023

US sanctions include Russian metal producers and financial institutions. Canada targeted Russia’s military-industrial complex. UK, Australia and EU also have new targets.

Structural Regulation

OECD Proposes Common Approach for Real Estate Information Exchange

By Ranamita Chakraborty | 20/07/2023

OECD recently submitted an updated report analysing the current state of tax transparency regarding foreign-owned real estate and made several recommendations.

ESG Data

EBA to Collect Ad Hoc ESG Data for Risk Monitoring

By Ranamita Chakraborty | 20/07/2023

By analysing and reviewing the ESG data, the European Banking Authority (EBA) along with European central banks and financial regulators will be able to monitor ESG risks more effectively.

Structural Regulation

EU Commission Seeks to Further Extend Transition Period for Third-country Benchmarks

By Manesh Samtani | 20/07/2023

The European Commission says the extension is necessary to avoid destabilising the asset management sector and financial stability risks.

AI Risk & Governance

AI Regulatory Sandboxes Need Cooperation and Expertise: OECD

By Ranamita Chakraborty | 19/07/2023

A recent OECD report on AI regulatory sandboxes highlights important policy considerations that emphasises the need to build AI regulatory expertise and interdisciplinary cooperation.