Events listed in World Wide
Basel Committee publishes discussion paper on digital fraud
ID 25820
The BCBS has published a discussion paper on digital fraud and its impact on the banking sector. The paper aims to provide a high-level assessment of the supervisory and financial stability implications of digital fraud for the global banking system. The paper defines digital fraud as the use of digital technologies to commit fraudulent activities, such as online fraud, cybercrime, and fraudulent use of ...
Illicit Financial Flows from Cyber-enabled Fraud
ID 25725
The present FATF report on Illicit Financial Flows from Cyber-Enabled Fraud focuses on the escalating issue of CEF as a burgeoning transnational organized crime. CEF criminal syndicates exhibit intricate structures, with distinct sub-groups possessing specialized criminal expertise, notably in money laundering. These sub-groups may operate in a decentralized manner across different jurisdictions, posing challenges to investigating CEF activities. Additionally, CEF syndicates ...
Consolidated assessment ratings & Cambodia’s, Thailand’s, ...
ID 25724
The FATF has published its latest updates to its Consolidated assessment ratings together with Cambodia’s, Thailand’s, Mongolia’s and Myanmar’s progress in strengthening measures to tackle money laundering and terrorist financing. The updated Consolidated assessment ratings provide an up-to-date overview of all assessed countries concerning the effectiveness and technical compliance with the FATF Recommendations, using the FATF Methodology together wit ...
Crowdfunding for Terrorism Financing
ID 25595
The present FATF report von Crowdfunding for Terrorism Financing addresses the significant and evolving international market of crowdfunding, emphasizing its susceptibility to exploitation by terrorist actors. The FATF conducted its first comprehensive international study on TF linked to crowdfunding, drawing on experiences from the FATF Global Network, industry experts, academia, and civil society. The definition of crowdfunding in this project encompasses formal crowdfundin ...
Public Consultation – FATF Risk-Based Guidance on Recommendation 25
ID 25579
The FATF has adopted amendments to Recommendation 25 on Transparency and beneficial ownership of legal arrangements. As a result, the FATF has begun updating its guidance on Recommendation 25 in order to support the implementation of these new requirements. As a reminder, the FATF Risk-Based Guidance on Recommendation 25 focuses on three key areas: Firstly, it recognizes that express trusts and similar legal arrangements ...
High-Risk Jurisdictions subject to a Call for Action & Jurisdictions under ...
ID 25546
The FATF has updated – yet not changed – the list of High-Risk Jurisdictions subject to a Call for Action due to their deficiencies in countering money laundering, terrorist financing, and financing of proliferation, the so-called „black list“. Due to the COVID-19 pandemic, the FATF review process for Iran and DPRK was paused, as these countries are already subject to the FATF’s call for ...
Consolidated assessment ratings – Finland’s, Japan’s and ...
ID 25474
The FATF has published its latest updates to its Consolidated assessment ratings together with Finland’s, Japan’s and Switzerland’s progress in strengthening measures to tackle money laundering and terrorist financing. The updated Consolidated assessment ratings provide an up-to-date overview of all assessed countries concerning the effectiveness and technical compliance with the FATF Recommendations, using the FATF Methodology together with the FATF 4th Rou ...
Publication of the updated Wolfsberg Group Payment Transparency Standards
ID 25414
The Wolfsberg Group has published an updated version of its Payment Transparency Standards, which aim to ensure minimum levels of transparency in payment processing and provide clarity on the responsibilities of various stakeholders involved in the payment chain. The **updated Standards broaden coverage to include all types of payment service providers and use ISO 20022 terms, expand the list of stakeholders to include payment ...
Basel Committee consults on disclosure of banks‘ cryptoasset exposures
ID 25367
The BCBS has issued a public consultation on banks‘ Disclosure of cryptoasset exposures, with a proposed implementation date of 1 January 2025. As a reminder, following a prior consultation, in December 2022 the BCBS published Prudential treatment of cryptoasset exposures, setting out the prudential treatment of banks‘ exposures to cryptoassets, including tokenised traditional assets, stablecoins and unbacked cryptoassets. As stated above, the present consultative ...
CPMI sets out harmonised ISO 20022 data requirements for enhancing cross-border ...
ID 25357
The BIS‘ CPMI has published its Harmonised ISO 20022 data requirements for enhancing cross-border payments – Final Report to the G20 to establish a consistent minimum set of messaging standards for more efficient processing of cross-border payments. These data requirements aim to facilitate straight-through processing of end-to-end payments, making them faster and more reliable. The report presents the CPMI’s harmonised ISO 20022 data requirements ...