CU News From Around the Planet
WASHINGTON—The Federal Trade Commission and Justice Department’s Antitrust Division participated in the recent G7 Competition Authorities and Policymakers’ Summit to discuss how members are addressing competition concerns in digital markets, including in emerging technologies such as artificial intelligence.
LONDON—Apple Pay has launched a new feature for customers in the U.K. that allows them to connect their accounts to eligible debit and credit cards in their Apple Wallet via open banking technology, according to a new report.
BASEL, Switzerland—Global money laundering and terrorist financing (ML/TF) risks continue to rise, according to the 2023 Public Edition of the Basel AML Index.
PARIS—The Financial Action Task Force (FATF) has released amended recommendations to give law enforcement, financial intelligence units, prosecutors, other asset-recovery practitioners extra powers to target and confiscate criminal assets.
CANBERRA, Australia–This country’s banks and credit unions have collectively launched the “Scam-Safe Accord” as part of a major effort to battle financial scams.
FRANKFURT, Germany—Commerzbank has become the first full-service commercial bank in Germany to be awarded a crypto custody license.
VILNIUS, Lithuania—The USAID/World Council of Credit Unions (WOCCU) Credit for Agriculture Producers (CAP) Project is reporting it assisted representatives of Ukraine’s credit union sector to prepare to implement the country’s new credit union law by leading them on a study tour to learn the best practices of Lithuanian credit union operations, regulation and supervision.
PURCHASE, N.Y.—A new report has found more consumers globally are setting up side jobs and considering working or living abroad, prompting the acceleration of cross-border payments.
MADISON, Wis.—World Council of Credit Unions (WOCCU) said it has officially added Brazil’s SICOOB, which is one of the largest financial cooperative systems in Latin America, as the first new member added under its revised membership structure.
MADISON, Wis.—In the wake of the devastating earthquakes in Turkey the Worldwide Foundation for Credit Unions (WFCU) is reporting it has provided a $30,100 grant to Tarim Kredi (Agricultural Credit Cooperatives of Turkey) through the Turkish Cooperative Earthquake Relief Fund to purchase more than 40 air conditioners that will allow for safer conditions for 126 workers and 20,489 members affected by the quakes.
