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Crypto / Digital Assets
Cyber Security is a Key Risk for CBDCs: BIS Paper
By Manesh Samtani | 01/12/2023
The report points to potential gaps in central banks’ internal capabilities and skills as a “key risk”.
Big Picture
APG Report Calls for Stronger AML/CFT Response to Illegal Fishing
By Manesh Samtani | 30/11/2023
Governments have “low levels of understanding” on the ML/TF risks posed by illegal fishing, leading to poor AML/CFT responses.
Crypto / Digital Assets
BIS Publishes Findings from CBDC Project to Address Privacy, Security
By Manesh Samtani | 30/11/2023
The report says Project Tourbillon shows that it is feasible to implement payer anonymity and “quantum-safe blind signatures”.
Big Picture
Banks Struggling to Implement Operational Resilience Standards: BCBS
By Manesh Samtani | 29/11/2023
The BCBS says full adoption of the Principles for Operational Resilience and revised Principles for the Sound Management of Operational Risk may take until at least 2025.
Big Picture
OECD Issues Policy Paper on Open Finance Data Sharing
By Mark Johnston | 28/11/2023
The new paper analyses the potential impacts of data sharing frameworks in the financial sector and provides recommendations for their implementation.
Crypto / Digital Assets
Basel Institute on Governance “Cautiously Optimistic” Regarding Crypto Risks
By Mark Johnston | 23/11/2023
Criminal funds flowing through blockchains are “decreasing constantly” as a proportion of total value. Regulations in the world’s financial centres are becoming stronger.
AML / KYC
FATF, OECD Spotlight Vulnerabilities of Investment Migration Programmes
By Manesh Samtani | 23/11/2023
The report proposes mitigation measures to address the risks and vulnerabilities associated with investment migration programmes.
Big Picture
ISDA, FIA, IIF Respond to FSB Consultation on CCP Resolution
By Mark Johnston | 21/11/2023
The industry groups welcomed the FSB’s focus on CCP resolution, but have raised some concerns and suggestions for improvement.
Crypto / Digital Assets
Industry Takes Tough Stance Against Unfair Trading Practices in Crypto
By Ranamita Chakraborty | 20/11/2023
Panellists at the Singapore FinTech Festival said regulators can work with the industry to address unfair trading practices.
Big Picture
Regulatory Intervention Needed to Address Cloud Adoption Risks: BIS Paper
By Manesh Samtani | 18/11/2023
Indirect oversight of CSPs, i.e. requiring financial firms to manage the risks, “may not be sufficient from a systemic perspective”, the paper says.
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