International

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    Cybersecurity

    UK Launches AI Security Research Lab to Defend Against Cyber Threats

    By Thisanka Siripala | 02/12/2024

    The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.

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    CBDCs

    Central Banks Offers Legal and System Design Lessons for Retail CBDC

    By Manesh Samtani | 01/12/2024

    Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.

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    Anti-Money Laundering

    Morgan Stanley Internal Documents Show Scale of AML Deficiencies

    By Nithya Subramanian | 30/11/2024

    Nearly a quarter of the bank’s international wealth accounts were reportedly flagged in 2023 for elevated money laundering risks.

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    Capital Adequacy

    BCBS Publishes Report on Implementing Positive Neutral CCyB

    By Manesh Samtani | 29/11/2024

    The report describes different jurisdictional frameworks for implementing a positive neutral CCyB and approaches to calibration and operation.

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    PEPs & Sanctions

    Russian Central Bank Intervenes to Support Crashing Ruble

    By Manesh Samtani | 29/11/2024

    The ruble’s sharp fall to levels not seen since March 2022 is attributed to sanctions imposed by the US on Gazprombank.

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    Credit Risk

    BCBS Finalises Technical Amendments to Basel Framework

    By Editors | 29/11/2024

    The amendments concern the standardised approach to credit risk and the capital charge for Group 2a cryptoassets. An amendment to the CCR framework is also proposed.

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    PEPs & Sanctions

    New Zealand Targets Russian, Iranian Actors With New Sanctions

    By Editors | 29/11/2024

    The sanctions target those involved in the deployment of chemical weapons against Ukraine and the provision of Iranian weapons to Russia.

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    Reporting & Disclosures

    EU to Simplify ESG Rules Amid Criticism of Over-Regulation

    By Nithya Subramanian | 29/11/2024

    The European Commission plans to reduce compliance burdens on businesses by streamlining existing ESG frameworks.

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    PEPs & Sanctions

    US Appeals Court Overturns Tornado Cash Sanctions

    By Editors | 28/11/2024

    The court said federal law only gives OFAC the authority to sanction property, and Tornado Cash’s smart contracts do not qualify as property.

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    Anti-Money Laundering

    APG Typologies Report Shines Light on Misuse of Legal Persons

    By Thisanka Siripala | 28/11/2024

    The APG’s 2024 typologies report says legal persons including shell companies have emerged as primary vehicles misused by criminals.

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