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Transparency

Meet our Member the Credit Bureau of Brunei

The Autoriti Monetari Brunei Darussalam (AMBD) has, pursuant to Section 42A of the AMBD Order, 2010, established the Credit Bureau (“Biro Kredit”) ​with the objective to promote a sound credit culture within the country’s financial system. The Credit Bureau is a unit under the Regulatory & Supervision Department of AMBD.  In September 2012, the Credit Bureau commenced its services to ... Read More »

B20 Policy Recommendations: Shaping an Interconnected World

On May 3rd, 2017, the B20 has officially handed over its Policy Recommendations to German Chancellor Angela Merkel at the B20 Summit in Berlin. The recommendations are the product of a yearlong process of our seven Taskforces and Cross-thematic Groups, which comprise over 700 members from all G20 economies. Developed under the theme “Building Resilience – Improving Sustainability – Assuming ... Read More »

Transparency: Russian Banking Groups are Required to Disclose Interim Financial Statements

Parent Organizations of Banking Groups are Required to Disclose Consolidated Interim Financial Statements according to New Requirements According to the Directive of the Bank of Russia of 16.01.2017 №4265-U «On Amendment to the Directive of the Central Bank of Russia of December 3, 2012 №2923-U «On Disclosure and Presentation of consolidated financial statements by the Parent credit organizations of the ... Read More »

Keep the Date: BIIA 2017 Biennial Conference Bangkok, Thailand October 18 to 20, 2017

BIIA Biennial Conference 2017

BIIA invites its members from the business and credit information industry, users of information services, government policy makers and regulators to attend the BIIA 2017 Biennial Conference, where we intend to discuss disruptive technologies  impacting our industry and the businesses of our customers. Venue: The Okura Prestige Hotel, Bangkok Thailands October 18, 2017: 13:00 hrs:  Registration opens 17:00  hrs: Membership ... Read More »

Encompass Corporation Partners with ComplyAdvantage

 Artificial intelligence to combat money laundering Combining Artificial Intelligence and traditional data sources will be key to combatting money laundering says Encompass Corporation and ComplyAdvantage who have today announced their partnership during Innovate Finance’s Global Summit 2017 being held at Livery Hall in London. Encompass Corporation is the creator of unique KYC policy automation software, purpose built for onboarding corporate ... Read More »

Proposals to Introduce Transparency to Overseas-owned UK Property Published

The UK would be the first country to have a public register showing the beneficial owners of property controlled by overseas companies New proposals would deliver the world’s first public register of the beneficial owners of overseas companies and other legal entities who own UK property National Crime Agency: “Greater transparency will assist investigators track down and recover proceeds of crime” ... Read More »

Cortera Launches TraitsTM for Business Analytics

Bringing the Power of Analytics to Companies of All Sizes and Analytical Skills Cortera, Inc. is pleased to announce the introduction of TraitsTM, a software tool that automatically creates statistical models in real-time to describe the patterns found in a group of companies, dramatically reducing typical modeling time and complexity. Traits users simply upload a file of companies that share ... Read More »

Compliance professionals in the UK face huge regulatory shifts & customer onboarding delays amidst growing global uncertainty

Dun & Bradstreet has launched its customer due diligence study, shedding a light on the UK’s financial sector which continues to grow but faces huge challenges in dealing with the regulatory risk that the current business environment presents. Compliance professionals are becoming further stretched by the continued impact of Brexit and regulatory changes that Donald Trump’s government will introduce, and ... Read More »

Trade Credit Risk Climate: Number of Business Insolvencies Peak in 2016

Despite increased claims core markets remain soft due to an ongoing growth in volumes of insured business Members of the International Union of Credit and Investment Insurers (Berne Union) and the International Credit Insurance and Surety Association (ICISA) have signalled high levels of claims for 2016 in the latest joint industry member survey. Data trends suggest a peak, with claims ... Read More »

Equifax Gains Full FCA Authorisation

Equifax has been granted full Financial Conduct Authority (FCA) authorisation with effect from Wednesday 1 March 2017. The FCA approval comes at a pivotal time for credit reference agencies (CRAs), with technological advances and shifts in customer behaviour fuelling important developments in data sharing, evidenced by industry initiatives such as Commercial Credit Data Sharing (CCDS) and the Open Banking Standard. ... Read More »

Transparency: Russia Has Joined the Multilateral Competent Authority Agreement on Automatic Exchange of Country-by-Country Tax Reporting

The Multilateral Competent Authority Agreement on automatic exchange of Country-by-Country Reporting¹ was signed by the Federal Tax Service of Russia on 26 January 2017 within the framework of implementation of the Plan on counteracting tax base erosion and profit shifting (BEPS Plan); the Plan was approved by top public officials of “G-20 Group”. Currently over 50 countries have adopted the ... Read More »

Compliance:  Protect Your Reputation, Make Smarter Decisions and Reduce Friction While Performing Due Diligence on Customers

Confidently acquire the right business customers with Business Compliance InsightTM, a comprehensive report that aggregates key sources for Customer Identification Programs Companies that need to evaluate merchants, suppliers or customers must face the real threat of mistakenly acquiring customers that engage in identity theft schemes, money laundering or funding terrorism. To help these companies meet multiple Know Your Customer (KYC) ... Read More »

Equifax’s Income and Employment Verification Product to be Introduced Soon in India

US-based Equifax, a consumer credit reporting company, is planning to launch its income and employment verification product to India.   Talking to BusinessLine on the sidelines of the Nasscom India Leadership Forum, David Webb, Chief Information Officer, Equifax, said the company is keen to add to its portfolio of solutions that it offers to the Indian market. Equifax is offering credit ... Read More »

P2P Lending: China Regulators Warn That 90 Pc of Peer-to-Peer Lenders Could Fail in 2017

Nine out of 10 of the mainland’s peer-to-peer (P2P) lending platforms will struggle to survive this year as the government rolls out tightened regulatory supervisions, according to a multi-agency report recently led by the Beijing Bureau of Financial Work.  About 500 P2P companies, out of the total 4,856 players across the nation, are likely to maintain their operations this year, ... Read More »

Australian Privacy Actions: ABR Gazette Change, February 2017

The ABR Gazette is a subscription-only commercial information service, collating public record information on companies and individuals such as insolvency, bankruptcy and court data relating to debt. The cover of the ABR Gazette includes the terms and conditions of use, restricting it to the assessment of credit risk Veda has agreed to amend the ABR Gazette in the next three ... Read More »

Russian Company Statistics: The Liquidation of Legal Entities has been Increasing, but not Due to Bankruptcies

In 2016 approximately 499,000 legal entities were created, however during the same period 781,000 legal entities were removed from the register, leaving a total registered active companies of 4.6 million as of January 01, 2017.  Liquidations in 2016 were 2.4 times higher than the 338,000 company liquidations recorded in a prior year.  According to the Federal Tax Service (FNS), which ... Read More »

CRIF Germany Launches CREDITY, a new B2B Credit Management Solution

CRIF has launched CREDITY, the new B2B Credit Management Solution (SaaS) for the non-finance service sector. CREDITY is an optimized decisioning & collaboration web tool for international credit management that companies can use for the daily management of their business customer portfolio.  The key benefits are: Fast & easy onboarding (no customization projects required) Cutting edge user interface (“strong UX”) ... Read More »