The most important economic data for this week are: Thursday: Australian Balance of trade at 12:30 AM GMT where the expectations are for an increase reaching A$7.5 Billion in trade surplus. This might not have a significant effect on the Aussie Dollar since the data are for the month of November and might already have…
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The Financial Intelligence Unit India (FIU IND) said it has written to the Ministry of Electronics and Information Technology in the country to block the URLs of the nine entities it states are "operating illegally without complying with the provisions of PML Act in India." The cryptocurrency exchanges on the notices are Binance, Kraken, Bitfinex,…
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According to the MAS, the relationship managers provided clients with inaccurate or incomplete post-trade disclosures, resulting in their clients being charged spreads above the bilaterally agreed rates for 39 over-the-counter (OTC) bond transactions. For the 39 transactions, MAS stated that Credit Suisse's relationship managers made false statements to their clients regarding the executed interbank prices…
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Cross-border payments have notoriously been plagued by complexities, including regulatory hurdles, bank downtime, and rising competition. In addition, inaccurate beneficiary details alone account for nearly a third of failed cross-border transactions, incurring significant costs and delays, according to the financial services company. Recognising the challenges, Swift said it has introduced its Payment Pre-validation service, which…
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