INTERNATIONAL

AML / KYC

FATF Highlights Progress to Adopt AML Standards for Virtual Assets

By Manesh Samtani | 08/07/2020

35 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.

AML / KYC

Using Privacy Preserving Analysis to Tackle Financial Crime

By Manesh Samtani | 07/07/2020

Privacy enhancing technologies, or PETs, may provide a “similar or, even, identical utility” compared to analysis of the raw data in some use-cases, says an FFIS paper.

Market Infrastructure

Singapore Regulator Raises Concerns Over LSEG-Refinitiv Deal

By Editors | 06/07/2020

Singapore’s competition regulator has concerns about whether Refinitiv’s widely used WM/Reuters FX benchmarks would be offered to rival providers at fair and reasonable terms.

Capital / Liquidity

BCBS Releases 18th Progress Report on Basel III Adoption

By Editors | 06/07/2020

In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.

Fintech / Regtech

BIS Innovation Hub Can Draw Lessons from GFIN

By Manesh Samtani | 03/07/2020

As the BIS Innovation Hub widens its reach, success will rely on its ability to cultivate a supportive ecosystem which includes financial institutions and innovators alike.

AML / KYC

Economic Downturn Presents Opportunities for Corporate Fraud

By Chris Fordham | 03/07/2020

Drawing from the Fraud Triangle Theory, Alvarez & Marsal’s Chris Fordham discusses how the current crisis has created a perfect storm for fraud and misconduct.

AML / KYC

Automatic Exchange Uncovers €10tr in Offshore Accounts in 2019

By Editors | 02/07/2020

The automatic exchange of information by tax authorities in nearly 100 countries uncovered data on 84 million accounts held offshore in 2019.

AML / KYC

BCBS Updates AML Guidance to Advance Supervisory Cooperation

By Editors | 02/07/2020

Prudential and AML/CFT supervisors should establish an effective cooperation mechanism regardless of the institutional setting, the updated guidelines say.

AML / KYC

New FATF President Presents Objectives For Two-Year Term

By Editors | 01/07/2020

FATF President Marcus Pleyer will prioritise work on digital transformation, racially motivated terrorism, migrant smuggling, environmental crime, and illicit arms trafficking.