International

Anti-Bribery & Corruption

OECD Calls for Global Crackdown on ‘Professional Enablers’

By Manesh Samtani | 27/02/2021

The OECD says each jurisdiction should implement a national strategy to deal with lawyers, notaries, accountants, and FIs that facilitate tax evasion, bribery and corruption.

Emerging Prudential Risks

FSB Work Plan to Focus on Addressing Covid Vulnerabilities

By Editors | 26/02/2021

The FSB says it will produce an assessment of initial lessons learned from the pandemic and a report on the factors needed for an orderly unwinding of support measures.

Anti-Money Laundering

FATF Concludes Second Plenary Under German Presidency

By Manesh Samtani | 26/02/2021

The FATF has finalised guidance on risk-based supervision, terrorist financing, and arms trafficking, as well as draft guidance on proliferation financing, and virtual assets.

CBDCs

China, UAE Join HKMA-BOT Initiative to Create CBDC Bridge

By Manesh Samtani | 23/02/2021

The project, now called ‘m-CBDC Bridge’, will seek the development of a prototype to facilitate real-time cross-border transactions using multiple CBDCs.

Payments & Settlements

BIS, SWIFT Invite Firms to Participate in ISO 20022 Hackathon

By Editors | 21/02/2021

Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.

AI Risk & Governance

80pc of Central Banks Use Big Data to Support Policy Efforts

By Editors | 21/02/2021

Many central banks have undertaken initiatives to develop big data platforms to facilitate storage and processing of large data sets, but progress has varied.

Fraud, Scams & Cybercrime

HK Banks Used to Launder Over HK$8bn in Scam Proceeds in 2020

By Editors | 21/02/2021

More than 10,000 bank accounts are believed to have been used in 2020 to collect and launder the funds before being channelled out of Hong Kong.

Market Data & Technology

ISO Standard Defining ISIN Updated to Expand Scope

By Editors | 21/02/2021

The update expands the scope of the standard beyond securities to include OTC derivatives, baskets, emission allowances and carbon credits.

Sustainable Finance

Trade Bodies Set Out Framework for US Transition to Low-Carbon

By Editors | 18/02/2021

The framework sets out ten principles to inform the policymaking process and catalyse the transition to a more sustainable and inclusive low-carbon economy.