Anti-money laundering
MAS consults on ‘Cosmic’ risk info-sharing platform
Digital platform for AML/CFT information sharing could be launched as soon as 2023
MAS says it is ‘examining’ allegations against local firm
Pandora Papers report alleges MAS was concerned by firm’s handling of Russian clients
Financial Stability Benchmarks 2021 report – keeping the sector secure
Benchmark exercise presents responses on AML/CFT, cyber, macro-prudential and other risks
Many benchmark respondents concerned over AML/CFT risks
Participants based in Americas especially concerned over rise in money-laundering risks
Lebanese central bank audit has not yet started, says outgoing finance minister
Media reports prosecutor probing new prime minister over central bank-backed loans
Bitcoin becomes legal tender in El Salvador
Observers warn move could further destabilise the fragile Salvadoran economy
Paraguay raises rates as start of ‘gradual normalisation’
Country is latest in Latin America to tighten policy, alongside Brazil, Uruguay and Peru
Philippines central bank calls for urgent reform of secrecy law
Financial industry says current law attracts money launderers as governor demands change
Digital yuan project should rethink anonymity, paper urges
Scholars argue CBDC “wallets” ought to be under full control of retail users
Lebanese politicians condemn governor for ending fuel subsidy
Salameh says he will not resume subsidy unless parliament allows use of mandatory reserves
HKMA to hold AML/CFT ‘lab sessions’ for firms
Hong Kong’s central bank wants firms to upgrade AML/CFT technology
Police search Paraguay central bank
“Fifa-gate” investigations into embezzlement lead special AML unit to execute warrant
Bahrain court convicts Iranian central bank of money laundering
Government says case involving CBI was largest money laundering case in Bahrain’s history
Papua New Guinea central bank penalises largest lender
Regulators issue warning on AML breaches at BSP, but observers say actions are not strict enough
Technology is the best bet in fighting money laundering
Danish FSA chief Jesper Berg says there is a need to think ‘outside the box’ on AML, rather than blame flawed regulatory and institutional design in dealing with corrupt money flows
South Africa’s new crypto framework: ‘neither hostile nor friendly’
Risk-based approach will bring crypto operations within South Africa’s regulatory perimeter
O CBDC, O crypto! Wherefore art thou regtech?
Putting more investment and energy into regtech, instead of solely focusing on crypto and CBDC, would help to secure more of the expected benefits from digital evolution
Three ways to bolster flawed AML/CFT in the EU
The EU needs to significantly improve the structure and resourcing of its AML/CFT oversight if it really wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
Mexico reminds banks crypto transactions are illegal
After El Salvador bitcoin law, authorities state virtual assets ‘not legal tender in Mexico’
China abandons cryptocurrencies under the PBoC (this time it’s for real)
New data centres set to be established to compensate provinces for lost crypto mining revenues
The winners of the 2021 FinTech RegTech Global Awards
Fourth annual tech awards recognise excellence among central banks and the firms they work with
Lithuania cancels firm’s licence over alleged Wirecard money laundering
Fintech business committed “severe infringements” in dealings with collapsed German firm – central bank
Governance Benchmarks 2021 report – the frameworks that rule central banks
How are central banks governed? Benchmarking data offers insights on appointments, legal structures, powers, decision-making bodies, independence and more
IMF warns Marshall Islands on digital projects
Local plans for digital currency and economic zone trigger concern at fund