The finance ministers and central bank governors of the G7 member countries issued a joint statement on the widespread adoption of digital payments, highlighting risks related to financial stability, consumer protection, taxation, cybersecurity, money laundering and terrorist financing.
The Bank for International Settlements, along with seven central banks published a report titled “Central bank digital currencies: foundational principles and core features”, which identifies key principles necessary for publicly available CBDCs, including the need to conform to AML requirements.
Norway flags deficiencies in Danske Bank’s AML program, U.K. seizes Lloyds Bank account linked to ‘Ndrangheta, and more, in the weekly roundup.
In the 15th installment of our series, the moneylaundering.com legal team examines central banks and their growing interest in cryptocurrencies and other digital currencies.
The Japanese Financial Services Authority announced the action against the Tokyo-based bank holding company for its failure to ensure sound and appropriate business operations.
Japan’s Financial Supervisory Agency stated in an administrative order against the bank that it processed investment trust sales with errors that caused losses to customers, and then responded unfairly and without explaining possible corrections.
|Compliant : 4||High :|
|Largely Compliant : 20||Substantial :|
|Partially Compliant : 14||Moderate :|
|Non-Compliant : 10||Low :|
|Not-Applicable : 1|
|Rank : 69/141|
|Score : 5.16/10|
|Rank : 20/180|
|Score : 73/100|
|Rank : 16/133|
|Score : 66/100|