Financial crime
Jamaica ‘twin peaks’ law coming in 2025, official says
Central bank will oversee non-bank sector after scandal at securities firm
BoJ’s CBDC designed to hold ‘minimum’ amount of user data
Offline solutions deemed to pose too great a risk of double spending and counterfeiting
Crypto, trade and environmental crime among AML/CFT risks – IMF
Staff propose increasing country assessments to twice per year
Cyprus central bank defends supervision after sanctions-busting claims
Prime minister pledges report after media investigation says Russians used local firms to dodge sanctions
Former Nigerian central bank governor granted bail on fraud charges
Emefiele pleads not guilty to new $2 million fraud indictment, trial starts November 28
ECB prioritises IT outsourcing and cyber resilience supervision
Institutions lost $161 million due to poor-quality outsourced services in 2022
Data sharing as a policy intervention
Increasing access to data represents another policy lever regulators can pull to achieve their objectives, writes David Bholat
Sam Bankman-Fried takes the stand in wire fraud trial
FTX head says he doesn’t know how $9 billion in funds disappeared
US Treasury division proposes crypto mixer regulation
Proposals target terrorism financing after Office of Foreign Assets Control sanctions Hamas
Israeli economy and budget will remain resilient, says Yaron
Bank of Israel governor expects inflation will return to target on schedule
Australia proposes crypto regulation reforms
Platform operators would need a licence and be subject to financial services laws
Iraqi central bank denies it will ban all dollar cash transactions
Official says he was misquoted as dollar shortage worsens amid US-Iraq tensions
Hong Kong regulator to publish more crypto information
Securities and Futures Commission reverses stance amid police investigation into crypto exchange
Iraqi central bank bans use of dollar for internal transactions
Move comes as tension with US over money laundering and Iran causes growing dollar shortage
Chinese police detain financial firm’s staff
Move came after property giant Evergrande’s financial arm missed payments for investment products
US ‘bitcoin ATM’ industry growing despite risks, research finds
Remittances are big driver of bitcoin-to-cash ATMs, but industry is predatory, paper warns
Hong Kong regulator moves against crypto exchange
SFC says JPEX is not regulated to trade in city as police arrest influencers linked to firm
Lebanese acting governor warns of state failure
Mansouri says central bank wants zero-deficit budget and will co-operate with independent audit
Financial Stability Benchmarks 2023 report – how central banks confront risk
Central banks discuss resources, regulating banks and non-banks, macro-pru, crime and future risk
Audit of Lebanese central bank reveals huge shortfalls
US, UK and Canada place personal sanctions on ex-governor Salameh
US regulators fine firms $549 million for using messaging apps
Feds say brokers violated recordkeeping laws by using WhatsApp and similar services
Lebanon’s acting governor says he will radically change course
Wassim Mansouri pledges cuts to central bank financing and demands action from politicians
Quantum computing and AI threaten financial system, Fed says
Ransomware groups seek to “exert maximum pressure on victim organisations”
Currency round-up: Uganda considers dropping smallest note
Suriname banker calls for larger denominations, while Chilean ex-governor opposes them