International

Crypto / Digital Assets

BIS Innovation Hub Nordic Centre Completes Retail CBDC Project

By Editors | 06/03/2023

Project Icebreaker shows that different countries can implement different CBDC solutions and still participate in a formalised interlinking arrangement to enable instant cross-currency transactions.

AML / KYC

US Authorities to Target Those Who Facilitate Sanctions Evasion

By Editors | 06/03/2023

China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.

Enforcement

OFAC Penalises Indian Tobacco-maker for Sanctions Violations

By Editors | 06/03/2023

Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.

ESG / Sustainability

New ISO Standard for Sustainable Finance Launched

By ESG Investor | 05/03/2023

The British Standard Institute has launched a sustainable finance standard to help ‘demystify’ principles for the market.

AML / KYC

US Authorities Fine Ericsson $200m for Breaching 2019 DPA

By Editors | 04/03/2023

Ericsson breached a 2019 deferred prosecution agreement intended to resolve a probe into 17 years of alleged corruption in Djibouti, China, Vietnam, Indonesia, and Kuwait.

Capital / Liquidity

Covid Asset Purchases by Central Banks Were “Broadly Successful”

By Mark Johnston | 04/03/2023

A new CGFS report finds that the asset purchases were “broadly successful” in addressing disruptions in monetary policy transmission and providing additional stimulus to the economy.

AML / KYC

FATF Explores Financial Crime Risks in Art and Antiquities Markets

By Mark Johnston | 03/03/2023

New report highlights the need for greater awareness and understanding of the risks and collaboration across public and private sectors.

Crypto / Digital Assets

FSB-IMF Paper to Support Global Policy Approach to Crypto

By Editors | 03/03/2023

An “IMF-FSB Synthesis Paper” due to be published in September will support a “coordinated and comprehensive policy approach to crypto-assets”.

Capital / Liquidity

BCBS Adds New Monitoring Dashboard for Banks’ Crypto Exposures

By Editors | 03/03/2023

In the first six months of 2022, cryptoassets under custody at banks declined 66 percent, largely due to fewer banks participating in the exercise.