INTERNATIONAL

AML / KYC

Global LEI Foundation to Develop ‘Cryptographically Verifiable LEIs’

By Editors | 10/12/2020

The ‘vLEI’ will create a cryptographically secure chain of trust that replaces manual processes required to access and confirm an entity’s LEI data.

AML / KYC

FATF Releases New Report on Trade-based Money Laundering

By Editors | 09/12/2020

A key finding of the report is that greater awareness about all aspects of the trade process would likely increase opportunities to detect and disrupt TBML.

AML / KYC

Combatting TBML Through Collaboration and Technology

By Henry Roxas | 09/12/2020

R3’s Henry Roxas describes the complexities of trade-based money laundering in Asia and the importance of collaboration to tackle the problem once and for all.

AML / KYC

US Congress Includes Corporate Transparency in Defence Bill

By Editors | 08/12/2020

The legislation will establish reporting requirements on beneficial ownership information, which could effectively end anonymous shell companies in the US.

AML / KYC

Global Coalition to Fight Financial Crime Expands Membership

By Sanday Chongo Kabange | 08/12/2020

Interpol and Western Union are among the five new additions to the GCFFC’s membership, bringing the total count to 18 organisations.

Market Infrastructure

DSB Set to Consult on Fee Structure for UPI in January

By Manesh Samtani | 07/12/2020

The UPI will ensure products are reported to trade repositories consistently across FSB jurisdictions. The first consultation will begin on 11 January 2021.

AML / KYC

The Best Weapon to Shut Down the Illegal Wildlife Trade

By Steve Galster | 07/12/2020

Freeland’s Steve Galster discusses new initiatives to stop illegal wildlife traffickers by hitting them where it hurts the most – in their bank accounts – and how financial institutions can help.

Market Infrastructure

IBA Consults on Intention to Stop Publishing LIBOR

By Editors | 06/12/2020

IBA intends to continue publishing the overnight and 1, 3, 6 and 12 month USD LIBOR settings until 30 June 2023. All other LIBOR settings would cease by 31 December 2021.

Market Infrastructure

IOSCO Consults on Fair and Equitable Access Market Data

By Editors | 06/12/2020

Market participants in many jurisdictions have raised concerns about the content, costs, accessibility, fairness and consolidation of market data, IOSCO says.