International

Anti-Money Laundering

Are Criminals Winning at Covid-19? Not Without a Fight

By Editors | 27/05/2020

Advances in digital identification technology can mitigate the unpleasant rise in pandemic-related financial crime. A top regulator, banker and lawyer join forces with Refinitiv to discuss how.

Anti-Money Laundering

Myanmar: YSX, Securities Firms Directed to Enhance AML Controls

By Editors | 25/05/2020

The YSX is asked to strengthen internal controls and establish an audit committee; six securities firms are asked to address document collection and record-keeping deficiencies.

Cybersecurity

Financial Sector Suffers More Cyber Attacks Than Any Other Sector

By Editors | 21/05/2020

But, because the financial sector spends more on IT security and manages the risks better, it also suffers lower costs than other sectors.

Anti-Money Laundering

Cambodia Approves Draft Laws to Curb Money Laundering

By Editors | 20/05/2020

The draft bills were reportedly motivated by Cambodia’s placement on the FATF’s ‘grey-list’ last year, which impacts foreign investment and the economy.

Tokenisation

DTCC Explores Further Digitalisation in Public & Private Markets

By Editors | 19/05/2020

Project Ion seeks to further optimise the settlement process in public markets. Project Whitney explores the use of asset tokenisation and digital infrastructure to support private markets.

KYC & CDD

Companies Not Protecting Against Third Party Risk: Refinitiv

By Editors | 18/05/2020

43% of third parties do not receive due diligence checks, and 62% of respondents do not know the extent to which third parties are outsourcing work.

Anti-Money Laundering

FSI Takes Stock of Official Sector Response to Rising Financial Crime

By Manesh Samtani | 17/05/2020

There are trade-offs between expecting FIs to enhance or adjust their cyber resilience and AML frameworks, versus avoiding excessive burdens that could hinder the delivery of key financial services.

Stablecoins

Temasek Joins Libra Association as First Asia Pacific Backer

By Editors | 17/05/2020

Temasek’s participation in the Libra Association will allow it to contribute toward a regulated global network for cost effective retail payments.

Model Risk

CCP Margin Models May Need Fine-tuning: BIS Paper

By Editors | 15/05/2020

Some CCP margin models underestimate market volatility because they rely on a short period of historical price movements from tranquil times, the paper says.