Visa is working on a universal payment channel

Visa is working on a universal payment channel project that connects blockchain networks to a variety of cryptocurrencies, stablecoins and central bank digital currencies (CBDCs).

The payments giant’s research and product teams are working on a universal payment channel (UPC) initiative, which is a blockchain interoperability hub that connects blockchain networks and allows for transfers of digital assets.

Get the details HERE.

“TOP READS OF THE WEEK” (for week ending 1 October)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• The NSA and CIA Use Ad Blockers Because Online Advertising Is So Dangerous
• Jamie Dimon says 'you're a fool' if you borrow to buy bitcoin, and that he wouldn't care if its price increased 10 times
• U.K. Investment Banks Pay Women 56% of What Male Colleagues Make
• US extradites highly-prized hacker back to Russia
• What Does Bitcoin Mean for the Payment Industry of El Salvador?
• Should Your Web History Impact Your Credit Score? The IMF Thinks So
• Big Tech CEO Insider Trading During the First Half of 2021
• SEC chair Gensler worried ‘people will be hurt’ without crypto and SPAC regulations
• Visualizing the Rise of Cryptocurrency Transactions
• New York Fed researchers design climate stress test for banks
• Lazard associates are now the highest paid on Wall Street after a pay bump raises the base salary to $200,000
• Don't hold your breath for a US CBDC
• AB InBev CFO: 'You can't hide when a pandemic hits'
• Swedish university fined $66,000 for GDPR violations
• Fintech and Banking Software Firm Velmie Launches FX and Cross-Border Transfer Service in Middle East
• 4 Tech-Driven Forces That Could Bulldoze Banks Off the Map
• Mastercard to launch new BNPL service
• Wells Fargo fined $37.3M to settle DOJ foreign-exchange case
• New York Fed researchers design climate stress test for banks
• Bank Mergers Are On Track to Hit Their Highest Level Since the Financial Crisis
• Microsoft warns of new credential-stealing backdoor from SolarWinds threat actor
• In first, Japan names China, Russia and North Korea as cyberattack threats
• WhatsApp to help rural, cooperative banks accelerate digital banking adoption
• How Yahoo Built a Culture of Cybersecurity
• Central banks and the BIS explore what a retail CBDC might look like
• What China’s new data privacy law means for US tech firms

From our Blog

• How to Plan and Implement an Ethics & Compliance Risk Assessment Program
• The Frequency of Payroll Payments at U.S. Small Businesses
• What China’s New Data Rules Mean for Tesla and Other Auto Makers
• Flags of Convenience - Bribe, Swindle or Steal Podcast
• Why China’s Evergrande Has Global Markets on Edge

How to Plan and Implement an Ethics & Compliance Risk Assessment Program

An ethics and compliance risk assessment is the foundation of an effective ethics and compliance risk management program. This detailed course provides a 12-stage framework that will help you complete your own ethics and compliance risk assessment.

In this hands-on course, we provide a wealth of practical tips on how to go about these tasks. Along the way we are also going to look at a number of major components and themes relating to the ethics and compliance risk assessment; items such as;

• Definitions.
• Understanding why ethics and compliance risk assessment are so important.
• Regulations and compliance requirements in the US, the UK, France and the OECD.
• How the COVID-19 pandemic changed the risk profile and what we need to do to counter these additional risks.
• Details of the main risk management systems currently in use.

With a completed ethics and compliance risk assessment and armed with your findings and action plan, you will be equipped to develop and implement an effective ethics and compliance risk management program.

As an added bonus, the approach that we use in this course is easily applied to any form of compliance, ethics, or conduct risk. What this means is that that the process will work equally well for data privacy, bribery and corruption, conflict of interest, financial integrity and fraud, modern slavery and other forms of economic crime.

To register click HERE.

 

The Frequency of Payroll Payments at U.S. Small Businesses

In this episode of Truth in Data, "PaymentsJournal" breaks down the frequency of payroll payments at U.S. small businesses.

What China’s New Data Rules Mean for Tesla and Other Auto Makers

China's new rules on auto data require car companies to store important data locally. Cars today offer high-tech features and gather troves of data to train algorithms. As China steps up controls over new technologies, WSJ looks at the risks for Tesla and other global brands that are now required to keep data within the country. Screenshot: Tesla China 

 

Flags of Convenience - Bribe, Swindle or Steal Podcast

Tom Cardamone, President and CEO of Global Financial Integrity, joins the podcast to discuss the regulatory and enforcement challenges associated with flags of convenience. These range from trafficked labor to environmental violations and Tom highlights the inherent tension between substantial tax incentives on one hand and accountability on the other.

Listen to this podcast HERE.

Why China’s Evergrande Has Global Markets on Edge

What the Chinese property giant's crisis means for global investors. Evergrande, China’s most indebted property developer, has kept global markets on edge and sparked protests at home as it struggles to survive. WSJ explains why the company’s crisis is raising questions about the state of the world’s second-largest economy.