SWIFT

News & Analysis as of

SWIFT Announces Development Of New KYC Compliance Registry

On March 4, SWIFT, the bank member-owned cooperative based in Belgium, announced that it signed a Memorandum of Understanding with six of its major member banks to develop a central utility for the collection and distribution...more

CFTC Expands List of Acceptable Legal Entity Identifiers

The Commodity Futures Trading Commission issued an amended order that expands the list of acceptable legal entity identifiers (LEIs) for purposes of swap data reporting and recordkeeping obligations under Parts 45 and 46 of...more

Wire Stripping: What is Old is New Again

Recently, Standard Chartered Bank (SCB) was in the news again for stripping original wire details so that payments would go undetected by the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC)....more

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