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ESG / Sustainability
NGFS Publishes Two-year Work Programme, New Charter
By Editors | 07/09/2020
A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.
AML / KYC
SWIFT Details How Cyber Criminals Encash Stolen Funds
By Editors | 03/09/2020
In a new report, SWIFT and BAE Systems reveal how cyber attackers launder money and ‘cash out’ following large-scale heists.
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.
Market Infrastructure
ESMA Postpones CSDR’s Settlement Discipline Regime
By Editors | 31/08/2020
The regime was initially due to come into force from September 2020 before it was deferred to February 2021. The new effective date is 1 February 2022.
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.
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