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AML / KYC
RUSI Identifies Typologies of Abuse of FATF Standards
By Manesh Samtani | 17/06/2024
RUSI identifies five major ways the FATF standards can be weaponised by authoritarian regimes to crack down on dissent and activism.
Fintech / Regtech
Benefits of Tokenisation Are “Overexaggerated”: WFE Paper
By Nithya Subramanian | 13/06/2024
The WFE says tokenisation work should continue, but that some of the benefits claimed are “overexaggerated”.
Capital / Liquidity
Bank Failures of 2023 Show Lack of Focus on Culture Risk
By Manesh Samtani | 12/06/2024
Starling Compendium says culture and conduct risk should be recognised by prudential regulators as sources of systemic risk.
AML / KYC
GCFFC APAC Chapter Publishes First Financial Scams Report
By Manesh Samtani | 10/06/2024
The GCFFC calls for the establishment of an international task force or body with a clear anti-fraud and scams mandate.
Big Picture
Significant Progress Made on Cross Border Payments: CPMI
By Manesh Samtani | 07/06/2024
More work is needed to integrate cross-border projects with domestic systems, and to extend the operating hours of key payment systems.
Big Picture
Fraud Constitutes 37pc of All Financial Crimes – Report
By Mark Johnston | 05/06/2024
Fraud accounted for 37% of financial crime records reviewed by LSEG Risk Intelligence for its inaugural fraud analysis.
AML / KYC
Tokenisation Will Improve Correspondent Banking Model: BIS Paper
By Manesh Samtani | 01/06/2024
The next generation of correspondent banking will make “previously closed corridors economically viable once again”.
Big Picture
BIS Explores GenAI Use to Boost Central Bank Cybersecurity
By Editors | 30/05/2024
Existing IT staff at central banks may not be fully prepared to handle the fast and disruptive innovations associated with GenAI.
Crypto / Digital Assets
US Treasury Publishes Illicit Finance Risk Assessment on NFTs
By Editors | 30/05/2024
NFTs are “highly susceptible” to use in fraud and scams, but “rarely” used for proliferation financing or terrorist financing.
Big Picture
ESMA Issues Recommendations for More Effective Capital Market
By Mark Johnston | 28/05/2024
ESMA outlines 20 recommendations aimed at strengthening the capital markets within the EU to better serve citizens and businesses.
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