Big Picture

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    AML / KYC

    National Risk Assessment Reinforces Need for AML Reforms: AUSTRAC CEO

    By Editors | 20/06/2024

    AUSTRAC CEO Brendan Thomas said the need to respond to the vulnerabilities posed by professional services firms is now “more critical than ever”.

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    Crypto / Digital Assets

    BIS Publishes Results of Latest CBDC, Crypto Survey

    By Editors | 17/06/2024

    Central banks are now more likely to issue a wholesale CBDC than a retail CBDC within the next six years.

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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.

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    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”.

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    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.

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    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.

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    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.

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    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.

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    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”.

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    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.

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