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Transparency

Beijing’s Waning Support for Private Credit Scores

A drive by China’s big technology companies to develop credit scoring platforms, originally backed by Beijing, faces growing opposition from regulators, who fear the initiatives may threaten data security and create conflicts of interest. Two people familiar with the process told Reuters that the People’s Bank of China – which in 2015 allowed eight firms including Alibaba’s Ant Financial and ... Read More »

German Investigators Pay €5 Million for Panama Papers to Hunt Global Tax Criminals

This is not the first time that Germany has rewarded data thieves for information on tax dodgers.  The Swizz banks called it a modern form of bank robbery [editorial comment]. The German Federal Criminal Police Office said recently that it has purchased the vast amount of leaked data known as the Panama Papers, which revealed the legally dubious offshore activities ... Read More »

Blockchain Made in China

Blockchain work continues apace in China. Its central bank opened a digital currency research institute, shortly after releasing new details about a forthcoming five-year development plan in which it specifies a development push for new technologies such as blockchain and AI.   A blockchain research lab is also being set up in Shenzhen by a group of research institutions and ... Read More »

Supply Chain Risk: Just 22% of Companies Address Child Labour in Supply Chain

Only 22% of companies are addressing child labour concerns in the supply chain, while only 23% are actively tackling climate change. The results of a new survey of business executives makes for sobering reading, given that there are more than 150 million children engaged in child labour around the world, and that scientists are predicting environmental Armageddon if carbon reduction ... Read More »

Consumer Credit Reporting Agencies Remove Most Judgment and Lien Information from Credit Reports

Beginning July 1, 2017, the three largest nationwide credit reporting agencies, Experian, Equifax and Transunion, will delete certain civil judgment and lien information from the databases they use to create credit reports?  On July 1, 2017, these credit reporting agencies will begin to implement new enhanced public records standards and related requirements as a result of an enforced settlement agreement ... Read More »

EliVator – The first Electronic Identity Verification (eIDV) Service for MENA and Russia

EliVator provides access via API to instant and accurate identity verification data on individuals and companies in developing countries and parts of the globe where information has traditionally and previously been difficult to access. Cedar Rose has been compiling information on companies and individuals in the Middle East, North Africa and surrounding countries for over 20 years. We believe our ... Read More »

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 »