International

ESG / Sustainability

BCBS Consults on Climate Risk Disclosure Framework for Banks

By Manesh Samtani | 30/11/2023

The BCBS proposes to provide a common disclosure baseline for climate-related financial risks across internationally active banks.

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.

Fintech / Regtech

Only Two G-SIBs Are Fully Compliant with BCBS 239

By Manesh Samtani | 29/11/2023

BCBS report suggests supervisors should consider more forceful measures to incentivise compliance with the principles for effective risk data aggregation and reporting.

Crypto / Digital Assets

FSB Warns of Risks from Multi-function Crypto-Asset Intermediaries

By Manesh Samtani | 29/11/2023

The FSB calls for cross-border cooperation and enhanced information sharing to help regulate and supervise multi-function crypto-asset intermediaries operating globally.

Sanctions

OFSI Touts Success in UK Court over Russia Sanctions Licence

By Editors | 29/11/2023

OFSI blog post summarises an October 2023 decision upholding the agency’s power to deny licence requests under the UK Russia sanctions regulations.

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.

AML / KYC

13 FIUs Establish Task Force to Disrupt Terrorist Financing

By Editors | 28/11/2023

The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.