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swift facilitates instant cross-border payments
**swift has launched a new service which enables the delivery of instant international payments by integrating the swift’s gpi into domestic real-time payments system.** Owing to swift’s gpi, instant cross-border payments with up-front fee and foreign exchange transparency for senders will be available globally. **Global payments initiative or gpi is a common standard designed to improve...
Path: BlogPeru has joined two major OECD Conventions
...t of September, the second one will enter into force on 1st of October. National authorities of Peru see this as an important step in further development of international cooperation. The OECD describes the **Convention as the key instrument for swift implementation of the Standard for Automatic Exchange of Financial Account Information** regarding Tax Matters. OECD and G20 countries developed...
Path: BlogMalta as the new crypto bay
**Malta is swiftly becoming one of the popular destinations for crypto and ICO** whereas other jurisdictions around the world restricting cryptocurrencies and ICOs or adopting a neutral approach. Even though Malta is the smallest EU member, its government is developing reliable laws for the newly created industry that will probably become the next big thing following the Internet, as well as ...
Path: BlogNew solution for suspicious transactions report in Hong Kong
... have: web browser (Chrome and Firefox are sanctioned), current version of Adobe Acrobat Reader and e-certificate from Hong Kong Post. **The main objective of e-STR is to allow users to make applications with the help of an electronic gadget in a swifter and more safe way.** In addition, the **e-STR provides extra supporting functions such as search of previous STRs as well as an instant check ...
Path: BlogThe main benefits of Cyprus formation
...es these treaties adhere to the OECD pattern. Consequently, foreign investors are not obliged to pay extra tax in their country of origin. **Company formation process** The mechanism for incorporation of a company in Cyprus is plain, clear and swift, this is an extra benefit of Cyprus in comparison with other jurisdictions. Name approval is the first step of company formation. On average it ...
Path: BlogCrypto aspirations: North Korea is holding cryptocurrency conferences
...a “token based on something with physical value” and which would be designed for DPRK banks, companies and organizations. One of April’s conference attendees revealed that the **Government is interested in using Bitcoin as a substitute for swift**. Indeed, many international experts expressed concerns that North Korea may be intended to use Bitcoin to get around sanctions as it can be co...
Path: BlogThe BRICS countries discuss the launch of the new cryptocurrency and unified payment system
...ncy only in order to protect transactions from the influence of the third countries. Moreover, besides the idea of minimizing the reliance on the US dollar, the BRICS countries are considering alternative technologies to minimize the power of the swift system. It is quite likely that the Russian Financial Message Transfer System (SPFS) might be connected to the Chinese international system of i...
Path: BlogHow political unrest affects cryptocurrency?
...tly, Bitcoin and other cryptocurrencies are either risk-on or risk-off assets depending on the place where you live. At bottom, Bitcoin can be used as a safe place to store value in the event of political upheaval, for example, when fiat currency is swiftly losing value. This is how cryptocurrency is connected to political instability. In countries that are enduring economic crises (for instance Z...
Path: BlogCySEC Requires to Follow Recently Introduced FATF’s Policies
...es stemming from COVID-19-related crime and impacts on money laundering and terrorist financing risks; - Current impact on AML/CFT efforts by government and the private sector due to COVID19; - Suggested AML/CFT policy responses to support the swift and effective implementation of measures to respond to COVID-19, while managing new risks and vulnerabilities identified, including: charitable ...
Path: BlogCIM Bank Account Opening
...rded for the excellent quality of its traffic of international payments in all major currencies. Confidentiality and respect of individual’s privacy is a fundamental Swiss value shared by CIM Bank. CIM Banque is a member of swift (Society for Worldwide Interbank Financial Telecommunication) and has set up an important network of partner banks who work with all the financi...
Path: BanksCIM Bank Account Opening
...rded for the excellent quality of its traffic of international payments in all major currencies. Confidentiality and respect of individual’s privacy is a fundamental Swiss value shared by CIM Bank. CIM Banque is a member of swift (Society for Worldwide Interbank Financial Telecommunication) and has set up an important network of partner banks who work with all the financi...
Path: Banks