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AML / KYC
GCFFC Offers Recommendations on Improving FATF Mutual Evaluations
By Manesh Samtani | 03/03/2022
Mutual evaluations also do not adequately take into account threat, materiality, and contextual factors. The FATF should promote the use of PPPs and data sharing.
Big Picture
GFMA Paper Outlines Benefits and Challenges of Wholesale CBDCs
By Editors | 23/02/2022
A wholesale CBDC must be crafted with public and private sector collaboration. Implementation timelines should be set cautiously.
AML / KYC
Tax Justice Network: Measures to Address Complex Ownership
By Manesh Samtani | 21/02/2022
Countries should ‘name and shame’ companies with highly complex ownership structures and consider forcing ‘too complex to fail’ companies to simplify.
Big Picture
HKCERT Warns of Information Security Risks in 2022
By Editors | 18/02/2022
NFT and metaverse-related risks, and crypto account hacks and thefts, were cited as top information security risks for the first time.
Fintech / Regtech
IMF Paper Offers Insights from Six CBDC Pioneer Projects
By Sanday Chongo Kabange | 15/02/2022
A new IMF paper offers lessons on CBDCs drawn from ongoing projects in China, the Bahamas, Sweden, Uruguay, Canada and the ECCU.
Big Picture
Capital Controls Slowing Down Cross-Border Payments: CPMI
By Sanday Chongo Kabange | 13/02/2022
Using SWIFT gpi datasets, CPMI identified capital controls, longer bank offline hours, and batch processing as factors that slow down cross-border payments.
Big Picture
Banks with Shadow Loans Face Higher Funding Costs
By Sanday Chongo Kabange | 10/02/2022
A new BIS paper finds that banks with high shadow loans face higher funding costs in the wholesale market and witness lower returns during market stress.
AML / KYC
Wash Trading Undermines Trust in NFT Markets: Report
By Manesh Samtani | 10/02/2022
Wash trading profits are likely derived from sales to “unsuspecting buyers”, who believe the NFTs they purchase have been growing in value.
Big Picture
WEF Report Calls for Cybersecurity to be Prioritised
By Editors | 30/01/2022
The report highlights prioritisation gaps between business executives and security-focused leaders, saying this can leave firms vulnerable to attacks.
AML / KYC
Europol Outlines Different Ways Criminals Use Cryptocurrency
By Sanday Chongo Kabange | 29/01/2022
A new Europol report highlights that the illicit use of crypto includes “all types of crime that require transfers of monetary value”.
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