Anti-money laundering
Swift warns of greater cyber threats as security control deadline nears
Customers have until December 31 to implement 16 mandatory controls
MAS bans individuals involved in 1MDB scandal
Six people involved in 1MDB-related breaches have been issued prohibition orders by MAS, with two more facing potential future bans
Moldovan parliament expands central bank’s supervisory powers
Major bank crime saw theft of approximately 12% of GDP in 2014
StanChart probed by MAS over fund transfers
MAS says supervisory probe is still ongoing and it will not tolerate abuse of its financial system; Indonesia is also reported to be investigating
MAS working to keep crypto-currencies and ICOs under control
Authority is mulling how to respond to the growth of crypto-currencies and initial coin offerings
Bank Indonesia targets fintech firms with new anti-money laundering rules
The new regulation is applicable to non-bank financial services, money changers and fintech firms
Brazil's central bank ponders fintech lending regime
The central bank says digital lenders could expand credit to families and small companies
Indian central bank introduces 200 rupee banknote denomination
New denomination should “facilitate exchange” for smaller transactions, RBI says
Maldives president appoints new governor in defiance of parliament
Nominated governor needs parliamentary approval but troops stop lawmakers from meeting
Russian central bank alleges criminal behaviour at several closed banks
Bank of Russia closes five banks and reports shortfalls or malpractice at four more
Maldives’ governor resigns as country remains in crisis
Governor says she is stepping down to join her husband in New York; country’s parliament is shut down amid political crisis
Belize central bank toughens AML/CFT controls with Swift solution
Software scans payment messages in real time, alerting central bank of suspicious transactions; upgrade is latest in a series of initiatives deployed in improving AML/CFT compliance
European supervisory authorities set out AML-CFT guidelines
Document spells out methods for implementing “risk-based approach”
BoE economist sees monetary policy benefits to demonetisation
Removal of high-denomination notes could help central bankers maintain policies of low inflation and interest rates near the zero lower bound
Deutsche Bank fined further $41 million by Fed
US central bank finds fault with banking giant’s AML function, months after UK regulators imposed similar fines; Deutsche has two months to submit reform plans
MAS concludes 1MDB review with fresh fines
Credit Suisse and UOB fined $1.6 million collectively, with further individuals receiving lifetime bans
DLT expert: central banks should consider wider uses than just payments
Instead of payments, central banks should look to implement DLT for identity document transfer, says Michael Mainelli; expert takes more cautious view of the technology
Ukraine’s Gontareva on one of the toughest jobs in central banking
The outgoing National Bank of Ukraine governor speaks about transforming the central bank while engaging in wartime deficit funding and overhauling the banking sector
Bank of Tanzania revokes FBME Bank’s licence after US ruling
The bank was deemed a money-laundering risk in 2014, after a US report highlighted concerns; the Bank of Tanzania revokes its licence following the commercial bank’s removal from the US financial system
Lebanese banking sector holding up, despite Syria crisis – central bank
The banking sector remains liquid and well capitalised despite a “strained” Lebanese economy, the central bank says; new compliance unit formed
Russian central bank opens first overseas office in Beijing
Russian and Chinese authorities announce a collaboration on payment systems and money laundering prevention
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology
Somalian central bank to print first notes since 1991
New 1,000 shilling looks set to enter circulation in 2017 with extensive assistance being provided by the IMF; central bank has struggled to operate amid civil war
Europe must strengthen money-laundering controls – EU agencies
Firms fail to properly implement AML/CFT policies, two-thirds of European national regulators say