First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

financial institutions

Three cybersecurity trends driving the Bank of Canada’s call for cybersecurity to be treated as a ‘public good’

As the level and sophistication of cyber-attacks continue to grow, there will be a mounting pressure on regulators to continue to develop coordinated, meaningful, mandatory minimum standards that are enforceable against all financial institutions and FMIs as well as their service providers.

 

, , , , , ,

“Not there yet”: Bank of Canada experiments with blockchain wholesale payment system

The Bank of Canada embarked on Project Jasper to learn more about the feasibility, benefits and challenges of using DLT as the basis for a wholesale interbank payment system. These systems are crucial mechanisms for the financial industry that allow large financial institutions to process payments to each other as well as to and from central banks.

 

, , , , , , , ,

Canadian anti-money laundering laws – Some traps for the unwary

Canada has had legislation in place to detect and deter money laundering since 1991. Contrary to what some may expect, the legislation (which has been amended several times over the last 24 years or so) applies (rightly) only to “reporting entities” and not all business entities or transactions.

 

, , , , , , , , , , , ,