International

PEPs & Sanctions

OFAC Penalises Indian Tobacco-maker for Sanctions Violations

By Editors | 06/03/2023

Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.

Sustainable Finance

New ISO Standard for Sustainable Finance Launched

By ESG Investor | 05/03/2023

The British Standard Institute has launched a sustainable finance standard to help ‘demystify’ principles for the market.

Anti-Bribery & Corruption

US Authorities Fine Ericsson $200m for Breaching 2019 DPA

By Editors | 04/03/2023

Ericsson breached a 2019 deferred prosecution agreement intended to resolve a probe into 17 years of alleged corruption in Djibouti, China, Vietnam, Indonesia, and Kuwait.

Emerging Prudential Risks

Covid Asset Purchases by Central Banks Were “Broadly Successful”

By Mark Johnston | 04/03/2023

A new CGFS report finds that the asset purchases were “broadly successful” in addressing disruptions in monetary policy transmission and providing additional stimulus to the economy.

Anti-Money Laundering

FATF Explores Financial Crime Risks in Art and Antiquities Markets

By Mark Johnston | 03/03/2023

New report highlights the need for greater awareness and understanding of the risks and collaboration across public and private sectors.

Cryptocurrency

FSB-IMF Paper to Support Global Policy Approach to Crypto

By Editors | 03/03/2023

An “IMF-FSB Synthesis Paper” due to be published in September will support a “coordinated and comprehensive policy approach to crypto-assets”.

Capital Adequacy

BCBS Adds New Monitoring Dashboard for Banks’ Crypto Exposures

By Editors | 03/03/2023

In the first six months of 2022, cryptoassets under custody at banks declined 66 percent, largely due to fewer banks participating in the exercise.

Reporting & Disclosures

Japan Sets Timeline for Domestic Implementation of ISSB Standards

By Editors | 03/03/2023

Japan will issue draft sustainability disclosure standards based on the ISSB standards by 31 March 2024, and final standards by 31 March 2025.

Payments & Settlements

CPMI Consults on Harmonisation Requirements for ISO 20022

By Editors | 02/03/2023

CPMI is seeking feedback on technical harmonisation requirements for the use of ISO 20022 messages in cross-border payments.