IMF Recommends Immediate Action on Malta’s AML and CFT Supervision

The International Monetary Fund (IMF) has said that the Malta Financial Services Authority (MFSA) has critical gaps in its supervision for anti-money laundering (AML) and combating the financing of terrorism (CFT), and is recommending “urgent action.” The news was reported by local news outlet the Times of Malta on Feb. 28. A Financial System Stability … Read more

FATF Issues Preliminary Guidelines on Digital Assets to Combat Money Laundering

The Financial Action Task Force (FATF), an intergovernmental organization that develops policies against money laundering, has published preliminary guidelines for cryptocurrencies on its website on Thursday, Feb. 28. The FATF held a meeting on preliminary crypto requirements on Feb. 22. According to the organization, the new text of the Interpretive Note to Recommendation 15 — … Read more

ESMA supervision to focus on data, Brexit and cybersecurity in 2019

ESMA supervision to focus on data, Brexit and cybersecurity in 2019 Tuesday 19 February 2019 08:58 The European Securities and Markets Authority (ESMA) has published today its 2019 Supervision Work Programme, which details the main areas of focus for the upcoming year for ESMA’s supervision of Trade Repositories (TRs), Credit Rating Agencies (CRAs), and the monitoring of … Read more

NCUA finds no BSA breaches from phishing campaign

After conducting a comprehensive review of its security logs and alerts, the National Credit Union Administration (NCUA) found no evidence of information being compromised as a result of recent spear phishing attacks targeting Bank Secrecy Act (BSA) officers at credit unions. Reports of such attacks have come from other parts of the financial sector as … Read more

Ethics: Why is it not wise to use AI without it?

When we talk about artificial intelligence (AI) and ethics, we are not referring primarily to dystopian applications in which an autonomous robot stubbornly makes decisions about life and death without human control in Terminator fashion. Of course, this does not mean that a critical discourse, for example, on autonomous weapons, […] The post Ethics: Why … Read more

Maltese Financial Regulator Issues Cybersecurity Consultation for Blockchain Industry

The Malta Financial Services Authority has issued a consultation on cybersecurity guidelines for the blockchain industry. The Malta Financial Services Authority (MFSA) has issued a consultation on cybersecurity, associated with new technologies such as blockchain, the agency tweeted on Feb. 8. In a consultation document called “Guidance Notes on Cybersecurity,” the MFSA suggested that the … Read more

Iran in Talks With 8 Countries for Use of Cryptocurrency in Financial Transactions

Economy & Regulation Iran is exploring various options, including holding negotiations with other countries to introduce cryptocurrency in global trade, as the Islamic state moves to sidestep U.S. economic sanctions. Mohammad-Reza Modoudi, the acting head of Iran’s Trade Promotion Organization (TPO), said the country was negotiating the use of cryptocurrency in its financial transactions with … Read more