International

Fintech / Regtech

G7 Ministers Outline Actions to Contain AI Risks

By ESG Investor | 03/05/2023

Ministers endorsed an AI action plan for “promoting global interoperability between tools for trustworthy AI”.

Sanctions

India, Russia to Explore Cross-border Payment Linkages

By Editors | 02/05/2023

India agreed to explore the acceptance of Russian Mir cards, a link with Russia’s Faster Payments System, and adoption of Russia’s financial messaging system.

AML / KYC

Combatting TBML Through Beneficial Ownership and Enhanced Transparency

By Jeremy Moller | 02/05/2023

Jeremy Moller discusses TBML trends, indicators, and how Australia’s proposed beneficial ownership registry could help mitigate this threat.

AML / KYC

CFTC Issues Largest Ever Civil Monetary Penalty

By Editors | 30/04/2023

The CFTC ordered the operator of a fraudulent multilevel marketing scheme to pay a $1.7bn penalty and a further $1.7bn in restitution.

Market Infrastructure

Firms Must Continue to Act to Ensure Orderly LIBOR Transition: FSB

By Editors | 28/04/2023

A “pile-up” towards end-June 2023 that could introduce operational risks and wider market disruption, the FSB said.

Capital / Liquidity

Credit Suisse Reveals Scale of Outflows Pre-UBS Deal

By Manesh Samtani | 27/04/2023

UBS is expected to record up to $57bn in profits in Q2 as a result of the deal, the largest ever banking profit recorded.

ESG / Sustainability

Venture Capital Firms Form New Climate Alliance

By Editors | 27/04/2023

A group of 23 firms has formed an alliance to develop best practices and tools for aligning early-stage investments with net zero goals.

ESG / Sustainability

UNEP FI Flags Industrials Climate Risks

By ESG Investor | 27/04/2023

Report says key transition risks facing the financial sector include the broadening application and ongoing increase in carbon prices.

Capital / Liquidity

South Korea to Participate in Global Bank Stress Test

By Editors | 27/04/2023

South Korea is not required to join the test as none of its banks are classified as G-SIBs, but it is nonetheless joining in order to better monitor global contagion risks.