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INTERNATIONAL
AML / KYC
FATF Calls for Urgent Action to Regulate Gatekeeper Professions
By Manesh Samtani | 11/07/2024
Australia, China, the US, and South Korea scored the lowest on compliance with the FATF’s corruption prevention standards.
Sanctions
Switzerland Expands Sanctions Against Russia
By Editors | 10/07/2024
The targets align with the EU’s 14th package, but measures targeting the energy, financial and goods sectors are still being examined.
Market Infrastructure
BCBS Consults on Principles for Managing Third-Party Risk
By Editors | 10/07/2024
The BCBS offers 12 high-level principles on the effective management and supervision of risks arising from third-party arrangements.
AML / KYC
Global Implementation of AML Measures for Crypto “Still Lagging”
By Manesh Samtani | 10/07/2024
The FATF says there has been “negligible improvement” in regulating virtual assets and “insufficient progress” in implementing the travel rule.
Market Infrastructure
BIS to Explore Approaches for Monitoring Supply Chain Shocks
By Editors | 10/07/2024
BIS will use granular data, analytics and AI to improve monitoring of global supply chains and better assess their economic and financial impacts.
Crypto / Digital Assets
Defunct Crypto Exchange Mt Gox Starts Repaying Creditors
By Editors | 09/07/2024
Mt. Gox was forced to close in 2014 after a major hack. Creditors have waited 10 years for repayments, which are now expected to be completed within 90 days.
Sanctions
US Treasury Proposes to Expand Jurisdictional Reach of CFIUS
By Editors | 09/07/2024
The proposed rule adds 56 military installations to the list of installations around which CFIUS has jurisdiction.
Capital / Liquidity
BCBS Consults on Technical Amendments and New FAQs
By Editors | 09/07/2024
One amendment addresses an inconsistency in how “specialised lending” is defined between the SA and IRB approach to credit risk.
Sanctions
Russia, Iran Integrate National Payment Systems
By Editors | 08/07/2024
Work to link Russia’s MIR network and Iran’s Shetab has been finalised. Agreement also signed on use of national currencies.
Sanctions
US Working on Plan to Target Russian ‘Shadow Fleet’ Vessels
By Editors | 08/07/2024
The US is reportedly looking to impose specific penalties on Russian shadow fleet tankers but the effort has stalled.
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