Clare Rowley Head of Business Operations at Global Legal Entity Identifier Foundation (GLEIF)
The need to harmonize cross-border trust services continues to grow in line with the ever-increasing volume of trade and commerce taking place globally across digital platforms. In this effort, the LEI can play a fundamental enabling role. The Financial Stability Board (FSB) has already endorsed the LEI to support the goals of its G20-endorsed Road...
05 July 2024 /payments /identity Digital Identity Management
The global economy is wrestling with never-before-seen levels of identity-related fraud. Cybercrime costs in the United States reached an estimated 320 billion U.S. dollars as of 2023, according to Statista. Between 2017 and 2023, this figure has seen a significant increase of over 300 billion U.S. dollars. According to the latest estimates, this ...
24 May 2024 /identity /crime Digital Identity Management
Efficiently accessing the data they need is a core challenge for organizations conducting due diligence and ongoing risk monitoring for corporate customers and suppliers. The information needed often comes from varying and disparate sources. KYC processes lack standardization due to the fragmented nature of national AML/CFT requirements. This prev...
01 November 2023 /regulation /identity RegTech
Addresses are foundational to the global economy. As noted by the Universal Postal Union, "addresses form an important part of the basic information needed to ensure communication (both digital and physical) between individuals, governments, and organizations." Given the fundamental role in enabling legitimate access to global commerce, i...
28 September 2023 /identity /crime
The need to harmonize cross-border trust services continues to grow in line with the ever-increasing volume of trade and commerce taking place across digital platforms, globally. In this effort, the LEI can play a fundamental enabling role. The Financial Stability Board (FSB) has already endorsed the LEI for supporting the goals of its G20-endorsed...
22 September 2023 /regulation
Money laundering and terrorist financing create significant systemic risks in the global financial system. The intricate webs spun by fraudsters and criminals to evade detection crisscross national borders and legal jurisdictions, commonly exploiting multiple financial institutions and legal entities. In today's instant digital economy, this is ex...
08 September 2023 /identity /crime Digital Identity Management
Why the LEI and BIC are a Perfect Fit for a Truly Global Identification Scheme Challenges in the cross-border payments market include high costs, low speed, limited access, and insufficient transparency. In October 2020, the G20 endorsed a roadmap to enhance cross-border payments. The roadmap was developed by the Financial Stability Board (FSB) in...
21 April 2023 /payments /regulation Data Management and Governance
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