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Transparency

BIIA in Action: B20 Publishes Summit Report

BIIA is an active member of B20 activities (the Business Part of the G20) such as the Digitation Task Force and the Cross-thematic Group on SMEs as previously reported by in recent BIIA Newsletters.   B20 Summit Report On May 2nd and 3rd, 2017 the B20 Summit was held in Berlin. Over 700 guests from the G20 countries and beyond ... Read More »

Atradius Unveils Atrium – A New Online Credit Management Portal

Credit limits approved in minutes with just a few clicks Atradius announced an upgrade to its digital platform with the unveiling of ‘Atrium’, its new credit management portal. Atrium is an advanced way for business to complete credit insurance transactions creating a new level of service. The Oracle based portal is designed to evolve with digital advancements and user requirements. ... Read More »

Russia Enhances its Public Sector Information (PSI) with Newly Launched Public Registers

In conjunction with its new regulatory framework:  Information Society (2011 – 2020), a number of new registers were recently launched in Russia: Securities Register: The Central Bank of the Russian Federation (Bank of Russia) approved the provision “On requirements to implementation of activities for maintaining the Register of securities owners (No. 572-P as of 27.12.2016). The document sets the requirements ... Read More »

Arvato Payments Review Provides Free Data and Insights into 14 Leading Markets

Risk and Reward for Online Retailers in Cross-border Business Going global has never been easier – at least in theory. Cross-border e-commerce offers retailers a world of opportunities, but also pitfalls for the unwary. The Arvato Payments Review is a free resource providing invaluable insights for retailers wanting to expand their online presence into new markets. Retailers looking to expand ... Read More »

The Russian Bankruptcy Process Appears to Lose Effectiveness

Credit Risk Prevention: Verification is Better than Court Proceedings The current bankruptcy law has turned out to be untenable. The ability to recover assets through court action is constantly decreasing, the measures for financial rehabilitation do not work. The only effective way to protect assets is to check and monitor business partners.   Less bankruptcies, more outstanding claims:   According ... Read More »

Transparency: Baidu Requires Real-name Registration for its Services

China’s leading search engine Baidu on Thursday required users of the company’s services, including popular online forum Baidu Tieba and cloud storage service, to register their real identities before June, otherwise they may be prevented from accessing the services. Baidu said in a statement that the requirement was in accordance with China’s Cyberspace Law, which stipulates that an Internet operator ... Read More »

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 with BIIA being part of it. Developed under the theme “Building ... 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 »