Fintech / Regtech

HKMA Publishes Research on GenAI in the Financial Sector

30/09/2024

HKMA survey of industry practitioners found that most FIs are currently focusing on internal applications of GenAI to drive employee productivity.

Market Infrastructure

NY Fed Launches New Panel to Bolster Resiliency of Benchmarks

30/09/2024

The so-called “Reference Rate Use Committee” will work to foster industry engagement on issues related to the use of interest rate benchmarks in the post-LIBOR world.

AML / KYC

HKMA to “Soon” Consult on Scam Loss Sharing Framework

30/09/2024

The framework will include principles for banks to use when deciding whether scam losses should be compensated, such as whether customers took care to safeguard their personal data.

Sanctions

Western Banks Processed Payments for Russian Warlord – Reports

30/09/2024

C4ADS says Yevgeny Prigozhin was able to establish a transnational criminal empire in Africa in part by hijacking the payments systems of western banks.

Sanctions

US Sanctions Iranian Cyber Actors for Election Interference

30/09/2024

OFAC sanctioned seven individuals while the DOJ unsealed criminal charges accusing three others of hacking Donald Trump’s presidential campaign.

Sanctions

UK OFSI Fines Concierge Services Firm for Sanctions Breaches

30/09/2024

The firm was fined GBP 15,000 for providing property management services to a designated person subject to an asset freeze between 2022 and 2023.

Sanctions

G7 Nations Publish Guidance on Preventing Russian Sanctions Evasion

30/09/2024

The guidance is aimed at preventing Russia from evading sanctions and export controls and obtaining the components it needs for its weapons systems.

Enforcement

Japan to Penalise Nomura Securities for JGB Futures Manipulation

30/09/2024

In the aftermath of a penalty recommendation from the SESC, at least four companies have removed Nomura Securities from their lists of bond managers.

Sanctions

UK Sanctions Entities, Vessels Involved in Russian LNG Sector

29/09/2024

The sanctions target five vessels and two ship management companies, including one based in India called Ocean Speedstar Solutions.