Banking & Finance News

Blockchain ~ From Disruption To New Business Models:

Power Engineering International | By: Thomas Steinberger, Robert Schwarz & Sergiu Maznic | GPE – May 22, 2018: Blockchain has the potential to change the business world as we know it today. Entire value chains can be shortened by it ...
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25% Of Dubai’s Buildings Will Be 3D Printed By 2025:

World Economic Forum | By: Adam Jezard | May 18, 2018: From printing replacement human body parts to assisting with running repairs on voyages to Mars, many predictions are being made for how 3D printing may soon improve the lot ...
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New DOJ Policy Against Piling On Has Rewards ~ With Strings Attached:

The FCPA Blog | By: Lara A. Covington & Michael E. Hantman | May 17, 2018: A common refrain in the white collar bar is that American government agencies don’t often get along and play well together. This can result ...
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FinCEN Ruling ~ Beneficial Ownership Requirements For Legal Entity Customers Of Certain Financial Products And Services With Automatic Rollovers Or Renewals:

Financial Crimes Enforcement Network | May 16, 2018: The Financial Crimes Enforcement Network (FinCEN) is issuing this ruling to provide a 90-day limited exceptive relief to covered financial institutions from the obligations of the Beneficial Ownership Requirements for Legal Entity ...
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Centrica Trials Blockchain Energy Trading For Local Market:

Clean Technica | By: Jake Richardson | May 15, 2018: Centrica and LO3 have collaborated to put together a local energy market trial in Cornwall, England. Blockchain technology will be used to create a peer-to-peer energy trading platform. Solar power ...
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FedEx CIO Says Blockchain A ‘Game Changer’ For Supply Chain Visibility:

The Wall Street Journal | By: Steven Norton | May 15, 2018: Rob Carter sees blockchain providing more transparency and higher reliability for shipments across various industries. FedEx Corp. is investing in blockchain technology to provide greater visibility and efficiency ...
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Rebuilding Schools, Bridges ~ And Lives:

The Wall Street Journal | By:  Richard Trumka & Marty Walsh | May 14, 2018: Public investment in infrastructure can restore America’s public works and promote opportunity. It only takes a moment talking to Emily Galvin, an apprentice with Ironworkers ...
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HSBC Says It Performs First Trade Finance Transaction Using Blockchain:

Reuters | By: Reuters Staff | May 14, 2018: HSBC Holdings Plc said on Monday it had performed the world’s first trade finance transaction using blockchain technology, a major step in boosting efficiency and reducing errors in the multi-trillion-dollar funding ...
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FinCEN Reminds Financial Institutions That The CDD Rule Becomes Effective Today:

FinCEN | By: Steve Hudak | May 11, 2018: The Financial Crimes Enforcement Network (“FinCEN”) reminds financial institutions and their customers that the final rule, “Customer Due Diligence Requirements for Financial Institutions” (the CDD Rule) becomes effective today. FinCEN issued ...
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Jordan To See Modest Economic Upturn, On Refugee-Led Consumption Boost And Reform Roll-Out:

European Bank For Reconstruction & Development | By: Anthony Williams | May 09, 2018: Jordan’s economy is expected to see a modest increase in the pace of growth this year and next, supported by stronger private consumption driven by a ...
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World Bank Urges Private Sector Interest In Refugee Camps:

Financial Times | May 05, 2018: Economic progress of displaced people held back by lack of access to capital. Refugee camps presented an opportunity for private sector investment, particularly when combined with the local host community, the UN and International ...
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Not Just A Fad ~ What Blockchain Means For Business:

Regus | By: Hannah Hudson | GPE- May 04, 2018: Tired of reading about blockchain? Don’t give up just yet: the technology is creating opportunities to fundamentally rethink how we work, what we do, and where we do it. Hannah ...
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Nigeria’s Internet Fraudsters Zero In On Corporate Email Account:

Business Insurance | Thomson Reuters | May 03, 2018: West Africa’s infamous internet scammers have evolved, dropping their impersonations of online love interests, princes and U.S. soldiers in favor of hijacking corporate emails, costing businesses hundreds of millions of dollars ...
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World’s Second Most Valuable Cryptocurrency Under Regulatory Scrutiny:

The Wall Street Journal | By: Dave Michaels & Paul Vigna | May 01, 2018: Securities, commodities officials examine whether ether, other cryptocurrencies should be regulated. The inquiry includes a focus on ether, representing a significant threat to virtual currencies, ...
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UK Backs Panama Papers Crackdown On ‘Dirty Money’ Havens:

International Consortium Of Investigative Journalists | By: Simon Bowers | May 01, 2018: The U.K. will force its overseas territories, including some well-known corporate secrecy havens, to reveal the names of company owners in these locations. The United Kingdom is ...
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Beazley To Launch Blockchain Registry With Bitfury, Lloyd’s Broker:

Business Insurance | By: Reuters | April 30, 2018: Insurer Beazley P.L.C. has partnered with three companies to build a blockchain-based registry that will manage insurance for crisis situations such as mass shootings, the companies told Reuters. The registry will ...
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Solar Power Trade Using Blockchain Completed In UK:

Clean Technica | By: Jake Richardson | April 28, 2018: Excess solar power generated by a community solar power array at the Banister Housing Estate in Hackney, a London borough, was sent to a nearby residential structure using blockchain technology ...
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FinCEN Issues Advisory On The FATF-Identified Jurisdictions With AML/CFT Deficiencies:

FinCEN | April 27, 2018: FIN-2018-A002 ~ Advisory on the FATF-Identified Jurisdictions with AML/CFT Deficiencies. On February 23, 2018, the Financial Action Task Force (FATF) updated its list of jurisdictions with strategic anti-money laundering and combatting the financing of terrorism ...
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Falling Grid-Scale Storage Prices Create “Watershed Moment”:

Clean Technica | By: Steve Hanley | April 25, 2018: In remarks to the 28th annual conference of the Energy Storage Association held in Boston last week, ESA head Kelly Speakes-Backman was euphoric. “This is a watershed moment, friends, this ...
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How Fake Mark Zuckerbergs Scam Facebook Users Out Of Their Cash:

The New York Times | By: Jack Nicas | April 25, 2018: Bogus accounts bearing the likenesses of the Facebook executives Mark Zuckerberg and Sheryl Sandberg have frequently been used to scam users. The New York Times contacted more than ...
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U.S. Cracks Down On Canadian Cross-Border Cryptocrime:

The FCPA Blog | By: Selva Ozelli | April 24, 2018: Canada has emerged as one of the cryptocurrency and blockchain centers of the world. Canada’s dominance in blockchain innovation stems in part from Toronto being home to Vitalik Buterin, ...
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Launching The Social And Human Capital Coalition ~ Helping Companies Recognize The Value Of People And Communities Living Well:

World Business Council For Sustainable Development | By: Social & Human Capital Coalition | April 17, 2018: Montreux Switzerland: Today, marks the launch of the Social and Human Capital Coalition, designed to help companies recognize, measure and value the importance ...
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Up To The Last Drop ~ The Secret Water War In Europe:

Al Jazeera | By: Yorgos Avgeropoulos | April 16, 2018: Is water a commodity or a human right? Cities across Europe are fighting water privatisation. In 2010, water was officially recognised as a universal human right by the United Nations ...
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Due Diligence Will Always Be A Human Skill:

The FCPA Blog | By: Scott Shaffer | April 17, 2018: In the recent Kinross FCPA case, the Securities and Exchange Commission stated that: “Kinross contracted with a politically-well-connected third-party consultant to facilitate contacts with high-level government officials without conducting ...
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Rural Electrification Minigrids To Become Investors’ New Darling:

Renewable Energy World | By: Dr. Thomas Hillig | April 12, 2018: Globally, around 1.2 billion people do not have access to electricity. Cost erosion in solar, wind, and energy storage technology is creating new opportunities for the electrification of ...
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Tumbling Costs For Wind, Solar, Batteries Are Squeezing Fossil Fuels:

Bloomberg New Energy Finance | By: Veronika Henze | GPE – April 05, 2018: Latest BNEF study of comparative costs worldwide shows an 18% improvement in the competitiveness of onshore wind and solar in the last year, and new and ...
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China To Spend $300 Million On Improved Irrigation In Southern Xinjiang:

Reuters | GPE – April 03, 2018: The Chinese government will spend 1.875 billion yuan ($298.92 million) to improve irrigation systems in the heavily ethnic Uighur southern part of the violence-prone far western region of Xinjiang, state news agency Xinhua ...
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3D-Printed Home Can Be Constructed For Under $4,000:

New Story | GPE – April 02, 2018: A home like this can be built in less than 24 hours at a cost of only $4,000. The secret? 3D printing. And they could help families living in poverty and unsafe ...
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These Developing Countries Are Getting Old Before They Get Rich, With Dire Consequences:

The Wall Street Journal | By: Luciana Magalhaes | April 01, 2018: Mix of more retirees, fewer workers to support each one, leaves budgets of countries such as Brazil with little money to invest in growth or basic services. Mariuza ...
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Ex-NATO Chief Seeks Task Force To Clean Up Latvian Banking:

Associated Press | By: Carlo Piovano | March 27, 2018: The former head of NATO has asked the prime minister of Latvia to create an international task force to guide the country in cleaning up its banking sector, which has ...
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Tesla Is Selling Energy On Wheels:

Clean Technica | By: Galileo Russell | March 25, 2018: Not just another car company. Tesla isn’t a car company. It’s a battery company that sells most of its batteries with wheels attached. Perhaps the most underappreciated facet of Tesla’s ...
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Consumers Make Their Own Case Against Abolishing Cash:

The Wall Street Journal | By: Joseph C. Sternberg | March 15, 2018: Paper money becomes more popular as monetary policy becomes less so. That’s good for democracy. The criticism of cash comes in two parts. The disingenuous half is ...
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In China Investigations, Messaging Platforms Can Be A Goldmine Or A Landmine:

The FCPA Blog | By: Eric Carlson | March 12, 2018: Anyone who has spent much time in China or dealt with investigations in China has probably heard of WeChat, a social media application. WeChat has over 900 million daily ...
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Portugal Enacts UBO And Central Company Registers:

The FCPA Blog | By: Martin Kenney | March 07, 2018: Like all EU states, Portugal is seeking to manage the thorny question of managing and recording Ultimate Beneficial Owner (UBO) information, as part of its obligations under Chapter III ...
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The New ID Theft ~ Millions Of Credit Applicants Who Don’t Exist:

The Wall Street Journal | By: AnnaMaria Andriotis | March 06, 2018: Synthetic-identity fraud is one of the fastest growing forms of identity theft — and the hardest to spot and combat. From a townhouse near a megachurch in Atlanta, ...
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Public Split On Basic Income For Workers Replaced By Robots:

Gallup | By: RJ Reinhart | February 26, 2018: Americans are split in their support for a hypothetical universal basic income (UBI) program that would guarantee a minimum income for workers who lose their jobs because of advances in artificial ...
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World Bank Sanctions Healthcare Group For Hiding Agent Commissions:

The FCPA Blog | By: Richard L. Cassin | February 23, 2018: The World Bank Friday debarred two related healthcare companies for misrepresenting the amount of commissions one of them agreed to pay an agent under projects in Bangladesh. The ...
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China’s Insurers Try Novel Approach To Elderly Care ~ Building Retirement Homes:

The Wall Street Journal | By: Chuin-Wei Yap | February 14, 2018: Industry has spent more than $10 billion building retirement communities to address aging population’s needs. About an hour’s drive from downtown Shanghai sits a resort-like community housing hundreds ...
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In The BVI, There’s Confidentiality ~ But Not Secrecy:

The FCPA Blog | By: Martin Kenney | February 14, 2018: My adopted home of the British Virgin Islands (BVI) has implemented what is known as the BOSS Act (or to give it its full title, the Beneficial Ownership Secure ...
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Researchers Team Up With Cities To Make Resilience A Reality:

Reuters | By: Michael Taylor | GPE – February 14, 2018: A multi-million dollar project launched on Sunday aims to connect urban officials with researchers to drive forward projects that will help cities adapt to growing pressures – from climate ...
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