Global terror financing watchdog, Financial Action Task Force (FATF) has underlined the potential threats where money can be misused in a rapidly digitalising world. FATF says money can be misused to support terrorism, hide illegal earnings, or fund activities that can harm global peace. It highlighted that to protect the world’s financial systems, FATF works with countries around the globe
FATF underlined its two reports published this year which extensively cover advanced methods including the manipulation of beneficial ownership information to mask the identities of sanctioned individuals and entities, the misuse of virtual assets and cryptocurrencies and leveraging maritime sectors and shipping industries to bypass international regulations.
The London Stock Exchange Group (LSEG.L) has launched a blockchain-based infrastructure platform for private funds, becoming the first major global stock exchange to implement such a system. The platform,
The European Commission has fined Apple €500 million and Meta €200 million for breaches of the EU’s digital competition rules. Apple’s fine is for preventing app developers from pointing users
Wealth managers are ramping up hiring in Hong Kong to cater to an inflow of mainland Chinese money. UBS Group AG is adding staff as it looks to double the assets it manages for millionaire clients in
Spain, Brazil and South Africa announced a new global coalition to tax the super-rich at the Fourth Financing for Development Conference in Seville, Spain. Oxfam said the alliance created at the UN