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International news & developments - October 2016

 

UK - The Criminal Finances Bill was introduced to the House of Commons on 13 October 2016. The Bill “will significantly improve the government’s ability to tackle money laundering and corruption, recover the proceeds of crime, and counter terrorist financing.

 

UK – BoE confirms broader stress tests for 2017. Consider how this might affect you and your organisation.

 

UK – Why banks need to worry about the World Trade Organisation reducing its trade forecast. If trade slows, it has consequences, not just for businesses and their employees, but also for banks.

 

Taiwan – Top regulator quits amid a scandal involving Mega Financial AML breaches. If we can’t trust the regulator, who can we trust?

 

Afghanistan – Corruption fight to safeguard US$12bn.

 

UK – Aviva fined £8.2m for breaking FCA rules. A really useful case study example of a failure to monitor and oversee the activity of outsourcers.

 

UK – Bank accounts used to launder profits of cyber theft. Another example of the scale of cybercrime in today’s society, and the relentless pursuit by law enforcement to stop it.

 

UK – Bankers’ love of London complicates Brexit relocation plans.

 

Hong Kong – Blockchain technology being brought to the HK stock exchange.

 

Singapore – MAS orders bank closures and fines over 1MDB links.

 

UK – Pension regulator wants more powers to protect workers. Interesting article addressing an issue that we’ve all got a vested interest in.

 

UK – Regulator publishes final rules on risk-based levies for the FSCS. How might this affect your business? A change of rules well worth noting.

 

EU – European banking authority publishes final guidelines on remuneration policies.

 

Myanmar – US Government officially terminates Myanmar sanctions. A significant change to sanctions policy.

 

Bangladesh – Sonali bank fined £3.3m. A useful case study example of AML failures.

 

How do we measure corruption?

 

Wells Fargo whistleblower says she flagged fraud years ago.

 

India - Huge phone scam targeting Americans leads to 700 being detained in India.

 

Banks' online security is failing customers, says Which? How good is yours?

 

GAIN 2016 – The Serious Fraud Office’s Current Direction and Enforcement Priorities. Useful update on what the SFO are currently doing?

 

Only 35% of people follow latest password advice. Some good advice on how to improve password strength.

 

UK - Transparency International warns incentive schemes heighten risk of corruption. Perhaps highlights a problem that is more wide-reaching than we imagine it to be.  

 

 

News Archive

 

News round up

A round-up of international news from October 2016

News round up

A round-up of international news from September 2016

News round up

A round-up of international news from August 2016

News round up

A round-up of international news from July 2016

News round up

A round-up of international news from June 2016

News round up
A round-up of international news from May 
2016

News round up
A round-up of international news from April 
2016

News round up
A round-up of international news from March 
2016

News round up
A round-up of international news from February 2016

News round up
A round-up of international news from January 2016

News round up
A round-up of international news from December 2015

News round up
A round-up of international news from November 2015

News round up
A round-up of international news from October 2015

News round up
A round-up of international news from September 2015

News round up
A round-up of international news from August 2015

News round up
A round-up of international news from July 2015

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