INTERNATIONAL

RBI Further Opens GIFT City Banking to Indian Residents

By Ajoy K Das | 12/07/2024

The change is expected to contribute to developing GIFT City’s banking environment and boost business prospects for the financial hub.

AML / KYC

Australia, US to Help Boost Correspondent Banking in Pacific

By Manesh Samtani | 11/07/2024

Australia pledged A$6.3mn in funding to help counter the decline in correspondent banking services in the Pacific.

Sanctions

US: Two Men Plead Guilty to Russia Export Control Violations

By Editors | 11/07/2024

The two men shipped US-manufactured dual-use electronics to Turkey, Hong Kong, India, China, and UAE before they were rerouted to Russia.

AML / KYC

FATF Calls for Urgent Action to Regulate Gatekeeper Professions

By Manesh Samtani | 11/07/2024

Australia, China, the US, and South Korea scored the lowest on compliance with the FATF’s corruption prevention standards.

Sanctions

Switzerland Expands Sanctions Against Russia

By Editors | 10/07/2024

The targets align with the EU’s 14th package, but measures targeting the energy, financial and goods sectors are still being examined.

Market Infrastructure

BCBS Consults on Principles for Managing Third-Party Risk

By Editors | 10/07/2024

The BCBS offers 12 high-level principles on the effective management and supervision of risks arising from third-party arrangements.

AML / KYC

Global Implementation of AML Measures for Crypto “Still Lagging”

By Manesh Samtani | 10/07/2024

The FATF says there has been “negligible improvement” in regulating virtual assets and “insufficient progress” in implementing the travel rule.

Market Infrastructure

BIS to Explore Approaches for Monitoring Supply Chain Shocks

By Editors | 10/07/2024

BIS will use granular data, analytics and AI to improve monitoring of global supply chains and better assess their economic and financial impacts.

Crypto / Digital Assets

Defunct Crypto Exchange Mt Gox Starts Repaying Creditors

By Editors | 09/07/2024

Mt. Gox was forced to close in 2014 after a major hack. Creditors have waited 10 years for repayments, which are now expected to be completed within 90 days.