Supported by Enterprise Singapore, DBS Bank completed the transaction in partnership with Maptrasco using IMDA's TradeTrust framework.
August 30, 2023Participating banks can register new trade financing transactions and receive real-time notifications if instances of duplication are detected.
June 26, 2023The prototype was developed as part of Project Dynamo, a collaboration between BIS Innovation Hub and HKMA to explore the use of digital tokens in supply chain finance for SMEs.
June 9, 2023COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.
May 9, 202369.2% of vessels with unknown beneficial owners have engaged in risky or sanction-violating behaviour, report finds.
April 21, 2023Three senior executives of Balli Steel were sentenced to prison for using fake documents and contracts to obtain loans.
April 5, 2023Wells Fargo's predecessor, Wachovia, provided software that was used by a foreign bank to process USD 532 million in prohibited transactions.
April 3, 2023The Roadmap identifies areas where coordinated action can make a significant impact, including through accelerated LEI adoption.
March 30, 2023The Bill provides FIs statutory protection from civil liability in respect of their disclosure of risk information on to COSMIC for the purposes of mitigating ML, TF and PF risks.
March 21, 2023Nine banks and three central banks participated in testing Swift's API-based CBDC connector across two blockchain networks and fiat-based payment systems.
March 10, 2023