International

Anti-Money Laundering

FATF Postpones Mutual Evaluations, Follow-up Deadlines

By Editors | 29/04/2020

All mutual evaluations and follow-up deadlines are postponed, and FATF will review grey-list jurisdictions in October rather than June as previously scheduled.

Cloud & Infrastructure

G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions

By Editors | 29/04/2020

Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.

Emerging Prudential Risks

Banking Regulation, Innovation Responsible for Shadow Bank Growth

By Editors | 29/04/2020

Regulatory burden on banks and technological improvements are likely the two most important factors behind shadow bank growth, a new paper says.

Operational Risk

Legacy Systems, Poor Data Quality Hindering BCBS 239 Adoption

By Manesh Samtani | 29/04/2020

Some banks have changed their BCBS 239 implementation strategies to comprehensively improve data quality, but this will take considerable time to resolve.

Data Privacy

Privacy Concerns, Bank Mistrust Lead to Higher Cash Use: Study

By Editors | 28/04/2020

The findings suggest that government policy to promote electronic payments may have to address fundamental concerns about privacy and confidence in financial institutions.

KYC & CDD

Digital Identification in a Post-COVID World

By Editors | 28/04/2020

Social distancing has put KYC into sharp focus, with regulators reiterating their support for digital onboarding to ensure financial transactions are possible.

AI Risk & Governance

FMSB Publishes Spotlight Review on Algorithmic Trading

By Editors | 23/04/2020

The Spotlight Review highlights the importance and challenges of model risk management in areas where algorithmic trading is being deployed.

Structural Regulation

Bloomberg Publishes Rulebook on IBOR Fallback Methodology

By Editors | 23/04/2020

The rulebook’s final methodology, rules and conventions are based on the results of four market-wide consultations ISDA conducted between 2018 and 2020.

PEPs & Sanctions

US Agencies Issue Alert on North Korea Cyber Threat

By Manesh Samtani | 22/04/2020

The advisory highlights the powers US agencies have to subpoena foreign FIs that maintain a correspondent bank account in the US to gain access to customer records stored overseas.