International

PEPs & Sanctions

Humanitarian Trade with North Korea: A Matter of Trust

By Eric A. Sohn | 28/05/2020

Eric A. Sohn at Dow Jones Risk & Compliance discusses what is needed for the US to agree to a mechanism for humanitarian trade with North Korea.

Climate Risk

NGFS Publishes Climate Risk Best Practices of Supervisors, Banks

By Editors | 27/05/2020

Most banks have undertaken an operational commitment towards greening their balance sheets, consider their actions to be part of their corporate social responsibility or risk mitigation measures.

Model Risk

Higher Skin-in-the-game Linked to Lower CCP Model Risk

By Editors | 27/05/2020

A new BIS paper finds that a higher amount of CCP skin-in-the-game is associated with more careful risk modelling and less frequent margin breaches.

Anti-Money Laundering

Are Criminals Winning at Covid-19? Not Without a Fight

By Editors | 27/05/2020

Advances in digital identification technology can mitigate the unpleasant rise in pandemic-related financial crime. A top regulator, banker and lawyer join forces with Refinitiv to discuss how.

Anti-Money Laundering

Myanmar: YSX, Securities Firms Directed to Enhance AML Controls

By Editors | 25/05/2020

The YSX is asked to strengthen internal controls and establish an audit committee; six securities firms are asked to address document collection and record-keeping deficiencies.

Cybersecurity

Financial Sector Suffers More Cyber Attacks Than Any Other Sector

By Editors | 21/05/2020

But, because the financial sector spends more on IT security and manages the risks better, it also suffers lower costs than other sectors.

Anti-Money Laundering

Cambodia Approves Draft Laws to Curb Money Laundering

By Editors | 20/05/2020

The draft bills were reportedly motivated by Cambodia’s placement on the FATF’s ‘grey-list’ last year, which impacts foreign investment and the economy.

Tokenisation

DTCC Explores Further Digitalisation in Public & Private Markets

By Editors | 19/05/2020

Project Ion seeks to further optimise the settlement process in public markets. Project Whitney explores the use of asset tokenisation and digital infrastructure to support private markets.

KYC & CDD

Companies Not Protecting Against Third Party Risk: Refinitiv

By Editors | 18/05/2020

43% of third parties do not receive due diligence checks, and 62% of respondents do not know the extent to which third parties are outsourcing work.