INTERNATIONAL

Market Infrastructure

Three Lines of Defense: Failed Promises & What Comes Next

By Erich Hoefer | 03/09/2020

The 3LoD model and its proposed successor, the Three Lines Model, need to account for social and behavioural drivers of misconduct to achieve their potential.

Market Infrastructure

Why APAC Should Care About the EU’s AIFMD Review

By Tony Freeman | 02/09/2020

Though prompted by Brexit, the proposed review of the AIFMD legislation will also have implications for buy-side firms operating in Asia, says industry veteran Tony Freeman.

AML / KYC

US DOJ Files Civil Forfeiture Complaint to Recover Stolen Crypto

By Manesh Samtani | 31/08/2020

The two crypto exchange hacks detailed in the complaint are linked to the same group of Chinese actors who laundered over $250mn in stolen cryptocurrency for North Korea in 2018.

AML / KYC

Trade-based Money Laundering: Avoiding Murky Waters

By Jamil Ahmed | 31/08/2020

HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.

AML / KYC

US Agencies Warn of North Korean ATM Cash-out Threat

By Manesh Samtani | 30/08/2020

The hacking team uses various techniques to gain access to banks’ SWIFT terminals to enable wire fraud or their payment switch application servers to enable ATM cash-outs.

Capital / Liquidity

FSB Publishes ‘Key Attributes’ Assessment Methodology for Insurance

By Editors | 25/08/2020

The methodology will guide the assessment of how well a jurisdiction’s insurance resolution framework aligns with the FSB’s Key Attributes for effective resolution regimes.

Securities / Derivatives

ISDA Calls for Global Alignment in UPI, UTI Implementation

By Manesh Samtani | 25/08/2020

ISDA is urging the FSB to “intensify monitoring and coordination of jurisdictional alignment” to the global UTI, UPI and CDE recommendations.

AML / KYC

ISO Sets Standard for Embedding LEIs in Digital Certificates

By Editors | 22/08/2020

Simplified LEI integration paves the way for all digital certificates to be linked by a universal identifier and reduces the resource burden on certificate issuers.

AML / KYC

APAC Regulators Issue Nearly $4bn in AML Fines in H1 2020

By Editors | 19/08/2020

Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo’s Rachel Woolley.