During the pandemic, the remote-work model evolved from the work-life choice of a few to a health directive for many, and the ranks of digital nomads swelled, aided by technology. Employees now appreciate the savings in commuting expenses and time, forcing employers to adapt. But workers are finding that remote work brings its own costs.
Finance
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European businesses hoped to see improving conditions as the pandemic waned, but this has not been the case. Bombarded by surging energy prices, inflation and interest rates along with a war in Eastern Europe, many fear for their futures. A recent PwC survey reveals the issues confronting businesses and investors. How can banks help?
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Regulators have long targeted banks in their attempts to stem the flow of corrupt money via AML/CTF laws. Their gaze now extends to other “enablers”, including lawyers, raising questions about the right to representation versus the ethics of working on behalf of corrupt individuals while emphasising the need to choose one’s clients wisely.
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Financial crime’s ability to cause havoc is escalating, and public and private actors are stepping up their efforts to confront it. But these counter-attacks are not enough. The financial ecosystem must embrace public-private data collaboration and harness an intelligence-led approach to improve its financial-crime-fighting credentials.
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To succeed, a bank must make a financial return, but how it achieves success is rapidly changing as the sustainability credentials of investments become top concerns of customers and regulators. Identifying portfolio climate risks is the first step. The right data and technology will empower the changes needed for profitable green finance.
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Central banks are scrambling to contain runaway prices with interest-rate hikes, yet China’s inflation remains below 3 percent. With Beijing’s zero-COVID policy restraining demand and little quantitative easing, inflation has been kept at bay—thus creating a widening divergence in the monetary policies of China and the rest of the world.
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Undertaking comprehensive customer due diligence (CDD) on corporate vehicles such as companies, trusts, foundations, and partnerships, has inevitable challenges especially where complex ownership structures are in place. Financial Institutions need to know both the legal owner and the beneficial owner, i.e., who owns the organisation and controls and benefits from the activities of the organisation.
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As millions of dollars in crypto-assets criss-cross international borders, the need for comprehensive global rules governing crypto-assets is becoming ever-more paramount, including to mitigate legal risk. What progress is being made to clarify and harmonise the rules of international private law for crypto-assets?
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The IMF’s September figures revealed that India overtook the United Kingdom as the world’s fifth-largest economy, knocking it out of the Top 5. While its new ranking is a laudable achievement, poverty and inequality remain rife across India, meaning that much of its work to achieve economic prosperity for all citizens still lies ahead.
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Finance
Why Banks and Finance Organisations Are ‘Orchestrating’ The Risk of Financial Crime and Fraud
Financial services organisations and banks across the globe face a difficult balancing act. On the one hand they must protect their operations and customers from the perpetual threat of financial crime and fraud, whilst on the other, they must reduce friction to create a seamless and straight-through experience for trusted