Cover Payment Enhancements Aimed at AML Vulnerabilities

August 2008
Securities Industry News;8/25/2008, Vol. 20 Issue 30, p6
Trade Publication
This article reports on the plan of Swift to increase transparency to cover payments in 2008. The plan includes an enhanced message format that identifies both the party sending the funds transfer and the bank receiving it. The company will launch a variant of the MT 202 bank-to-bank message. According to Swift business manager Jim Wills, the introduction of the message type is intended to enable remitting banks to choose a message type that will overcome the lack of transparency in cover payments.


Related Articles

  • Verg├â┬╝tungsberichte vieler Banken mit Transparenzdefiziten.  // Risiko Manager;2013, Issue 12, p4 

    The article discusses the results of a research study on transparency in the business reports and other publications by banks in Germany, primarily concerning executive compensation.

  • Transparency Clearly Doesn't Sell. Kahr, Andrew // American Banker;11/29/2011, Vol. 176 Issue 183, p8 

    The article presents the author's comments on transparency in the U.S. banking industry in light of the Bank of America Corp.'s announced monthly debit card fee that consumers protested and argues customers are willing to accept checking account fees.

  • GETTING SERIOUS ABOUT RESTRUCTURING BANKS.  // Global Finance;Apr2015, Vol. 29 Issue 4, p18 

    The article reports on the concerns over transparency and governance in the banking industry of Central Asia and mentions the restructuring of banks in Kazakhstan.

  • FASB-Rule Disclosures Inconsistent. Davidson, Kate // American Banker;2/28/2011, Vol. 176 Issue 31, p1 

    The article discusses credit disclosure requirements and rules issued by the Financial Accounting Standards Board (FASB) which took effect in December 2010. The discussion topics include U.S. banks' disclosure of credit quality, the discretion given to banks on how to comply with the rules, and...

  • Economic Structure and Context: Financial System.  // Russia Country Monitor;Jun2012, p23 

    The article focuses on the structure of the financial system in Russia. It notes the significance of the introduction of widespread deposit insurance, which shows significant improvement in the banking sector. However, the country's banking sector remains small, weak, and segmented due to the...

  • A social constructivist analysis of the 2007 banking crisis: Building trust and transparency through community currencies. Breitstein, Lance; Dini, Paolo // Journal of Banking Regulation;Jan2012, Vol. 13 Issue 1, p36 

    This article examines the 2007 banking crisis from an interdisciplinary and, in particular, social constructivist perspective to identify its structural and systemic causes. After presenting and explaining a wide meta-theoretical framework that can accommodate different understandings of...

  • CHAPTER XIII: PUBLIC INFORMATION AND COMMUNICATION.  // Annual Report (Bank of Lithuania);2006, p80 

    Chapter 13 of the publication "Annual Report (Bank of Lithuania)" is presented. It emphasizes the role of public information and communication in maintaining the transparency in the activities participated by the Bank of Lithuania. The article states that in doing so, it ensures the formation of...

  • Determinants of voluntary disclosure in Tunisian bank's reports. Dhouibi, Raoudha; Mamoghli, Chokri // Research Journal of Finance & Accounting;2013, Vol. 4 Issue 5, p80 

    Disclosure and bank transparency are currently of crucial importance with regard to the adaptation of regulatory tools (Basle II) to enhance the stability of the banking sector. Voluntary disclosure in banking firms can improve transparency of market transaction and forcing bankers to reduce the...

  • Europe Mulls Adding More Stress Tests.  // American Banker;8/25/2010, Vol. 175 Issue 131, p16 

    The article focuses on plans by the European Union to institute more frequent stress tests of European banks to provide greater transparency concerning bank holdings of sovereign debt.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics