The European Banking Authority (EBA) published its third Report on the functioning of anti-money laundering and countering the financing of terrorism (AML/CFT) colleges.

The new guidance will assist LFIs' understanding of risks and effective implementation of their statutory AML/CFT obligations.

Singapore published a five-pronged strategy to prevent, detect, investigate, and enforce against terrorism financing (TF). The National Strategy for Countering the Financing of Terrorism (CFT) provides a roadmap for the development of future action plans to combat TF.

“Huarui FinTech Salon” (No. 2), jointly hosted by Shanghai Huarui Bank, International Monetary Institute (IMI), Renmin University of China(RUC) and RUC FinTech Institute, was held on August 30 afternoon online. The theme of the salon was “Blockchain technology development and its application trend”. The keynote speech was delivered by Cao Feng, Member of the China FinTech 50 Forum (CFT50). The following experts attended the salon: Deng Di, Chairman of Taiyi Group; Sun Xi, Senior Expert of Ant Group Research Institute; Yang Dong, Executive Dean of Blockchain Research Institute, RUC; Wu Entao, Managing Director of South China Sea Cooperative Innovation Development Fund. The event was moderated by Qiu Zhigang, Senior Research Fellow of IMI and Professor of School of Finance, RUC.

EBA observes that most competent authorities have devoted resources to ensure effective functioning of anti-money laundering and counter-terrorist financing (AML/CFT) colleges. EBA finds that ongoing cooperation and proactive information exchanges between supervisors has not been fully achieved yet in all AML/CFT colleges. EBA recommends the organisation of AML/CFT colleges to be more risk-based.

The Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement (CCFTA), which both took effect earlier this year, have significantly contributed to boosting Cambodia's economic recovery, a senior official has said.