International

Cybersecurity

UBS, Pictet Suffer Data Leak Following Cyberattack on Vendor

By Thisanka Siripala | 20/06/2025

Both banks said client information was not affected by the cyberattack on Chain IQ, only employee-related data.

Emerging Prudential Risks

FSB Chair Klaas Knot Warns Against Complacency in Final Address

By Thisanka Siripala | 19/06/2025

Klaas Knot warned that easing banking regulations would be a “big mistake” that would increase the likelihood of financial crises.

PEPs & Sanctions

Unicat to Pay $3.88m for Violating Iran and Venezuela Sanctions

By Thisanka Siripala | 19/06/2025

The former CEO knowingly approved exports to Iran, using offshore affiliates in the Netherlands and China to mask the transactions.

Operational Risk

Banking Sector Reports Fall in Operational Risk for 2024: ORX

By Editors | 18/06/2025

ORX report shows banking sector operational risk losses down in 2024, but external fraud and digitalisation trends warrant attention.

Anti-Money Laundering

FATF Publishes Updated R.16 Standard on Payment Transparency

By Manesh Samtani | 18/06/2025

The FATF said the will help combat fraud and illicit finance, balancing security with innovation and financial inclusion.

Sustainable Finance

New Guide Being Developed to Boost Adaptation Finance in ASEAN

By Nithya Subramanian | 18/06/2025

The joint initiative by UNEP FI, ACMF and SFIA will aim to develop a regional adaptation guide to enhance the ASEAN Taxonomy and help bolster climate finance.

PEPs & Sanctions

Australia, UK, EU and Canada Tighten Sanctions on Russia

By Manesh Samtani | 18/06/2025

The allies are targeting Russia’s energy revenues and sanctions evasion, while the US resists further action.

Climate Risk

Tensions Flare Over US Climate Stance at FSB Meeting – Report

By Manesh Samtani | 18/06/2025

Disagreement over the urgency of climate-related financial risks sparked heated debate among global regulators in Madrid.

Clearing & Post-Trade

WFE Issues Guidance on Transitioning to T+1 Settlement Cycles

By Nithya Subramanian | 17/06/2025

The guidance identifies lessons learned and key considerations for a successful transition to a T+1 settlement cycle.