International

Anti-Money Laundering

FATF Details Virtual Asset Red Flags for Detecting Criminal Activity

By Editors | 15/09/2020

This report will help VASPs, FIs, DNFBPs, and other reporting entities detect and report suspicious transactions, and national authorities detect criminal activity.

Anti-Money Laundering

Leveraging Data & Tech in Financial Crime Compliance

By Manesh Samtani | 14/09/2020

The pandemic has been an agent for accelerated change in operational and frontline functions. Financial crime compliance teams need to get in on the act.

Reporting & Disclosures

Standard-setters Kick Off Initiative to Harmonise Sustainability Reporting

By Editors | 13/09/2020

The IFRS Foundation is proposed as the body that is “optimally positioned” to lead and coordinate the creation of a new sustainability standards board.

Climate Risk

NGFS Seeks Wider Adoption of Environmental Risk Analysis at FIs

By Editors | 10/09/2020

The NGFS is calling for wider use of ERA in the financial industry, offering case studies to showcase the adoption of ERA tools and methodologies by some FIs.

Anti-Money Laundering

EBA Calls for Harmonised AML/CFT Framework Across EU

By Editors | 10/09/2020

Responding to a European Commission call for advice, the EBA says it recommends the establishment of a single rulebook to harmonise the AML/CFT framework across the EU.

Climate Risk

CFTC Report Warns of Systemic Risks from Climate Change

By Manesh Samtani | 10/09/2020

The report calls on financial regulators to move “urgently and decisively” to measure, understand, and address the risks climate change poses to the US financial system.

Reporting & Disclosures

IOSCO to Harmonise Global ESG Disclosure Frameworks – Report

By Editors | 10/09/2020

A new IOSCO taskforce will work to identify commonalities across sustainability disclosure standards from across the world to develop principles-based guidelines.

Market Risk

ISDA Chief Urges Continued Work on Initial Margin Implementation

By Editors | 09/09/2020

Phase 5 implementation will be the most demanding phase yet, and firms will need to be ready well in advance to avoid a last-minute compliance bottleneck.

CBDCs

Mastercard Launches Virtual Testing Environment for CBDCs

By Editors | 09/09/2020

The platform enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers.