Next ICC Global Banking Commission Meeting

The next ICCGlobal Banking Commission meeting will take place in online format on Tuesday11 July. The topics at the meetingwill be the final decision on TA927 following survey sent to all as well asupdate on upcoming TA issue briefing and survey on ISBP.

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Updated TORs technical advisorsand call for interest

Following ourlast ICC Opinion session on 18 April 2023 it was raised to the Secretariat thatthe terms of reference (TOR) for thetechnical advisors team was outdated in several aspects including terms. 

As aconsequence, the TOR has been updated by the steering group. In essence theupdate means that there will beadded 2 positions in addition to the already 3 technical advisors (DavidMeynell, Glenn Ransier and KimSindberg) and technical editor (Gary Collyer). These two are now open for nomination by ICC NationalCommittees. Nominations will bereceived until Friday9 July 2023.

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ICC Banking Commission Updates

During June, the ICC provided updates on the current projects orachievements: Commercialisation working group:

The Commercialisation working group has issued its first issuebriefing based on the model developed by the technical advisors team.

The first commercialization workinggroup engaged on the riskslinked to email presentation and file attachments under documentary creditsand explaining the reasons to avoid it. It is available directly on the ICC Digital Library where the Technical Advisors issue briefs are also free of access. 

The ICC is alsocurrently working on the eUCP directory in order to have it available on the ICCWBO website shortly. ICC Memberswishing to appear on it and displaying their capabilities when it comes to eUCP issuance and advisecan contact their ICC National Committees in order to be acknowledged.

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ICC 2023 Trade Register:

Trade Registermembers have startedthe data gathering exercise for the 2023 report.The ICC will soon begin the analysis and drafting of the2023 report.

All information on the ICC Trade Registeris available on the dedicatedwebpage including pricingmodel and ways to become member.

Publication is expected for September 2023.

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ICC Financial Crimes and Riskspolicy taskforce final draft papers – Dual use goods & Price checking

TheICC Banking Commission have circulated two recommendation papers for commentsby the ICC National Committees. Bothdocuments have been draftedby the FCRP Group.

The FCRP grouphas been recently focusing on the necessity of price checking of goods &services in trade transactions,identifying through the present draft the current challenges facing financial institutions as well as forecasting thefuture role of technology in this field. Additionally, it has also worked on the matter of dual-use goodsand proliferation financing, highlighting the need for training, and raisingawareness of relevant staff involved in the sector. 

The feedback from the ICC National Committees will enable the FCRPto move forward and publish the recommendation papers.

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WolfsbergGroup publishes guidance for financial institutions to prevent and protectagainst bribery andcorruption

On April 17,2023, the Wolfsberg Group issued updated guidelines for financial institutionsrelating to Anti-Bribery andCorruption Compliance Programs. Although the guidance is not binding, it certainlyis influential and isexpected to set the standardwithin the market.

Formore information: https://wolfsberg-group.org/news/39/