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AUSTRAC Warns 98% of Wealth Management Businesses Filed No Suspicious Matter Reports in 2025

AUSTRAC has written to wealth management businesses following a supervisory campaign revealing that 98% of sector businesses filed no suspicious matter reports (SMRs) in 2025, despite operating in a sector exposed to significant money laundering risks. Only three businesses were responsible for nearly two-thirds of all SMRs across the entire industry. AUSTRAC CEO Brendan Thomas stated that these numbers indicate many businesses do not have adequate systems or processes to meet reporting obligations or properly identify high-risk customers.

OSFI Reintroduces Non-Bank Financial Institution Risk in Annual Risk Outlook

OSFI released its 2026-2027 Annual Risk Outlook identifying top risks facing Canadian financial institutions including real estate secured lending risk, non-bank financial institution risk, and liquidity and funding risk. The outlook notes increased housing and mortgage pressures in some regions and expanded risks outside the traditional banking system where non-bank lenders and investment funds are taking on more borrowing. Global uncertainty may affect funding market confidence. OSFI continues calibrating regulatory capital requirements with risk weights subject to adjustment over time.

Crypto Threats, Vulnerabilities and What to Do Next

ACAMS published an analysis by Senior Director Craig Timm examining crypto-related threats and vulnerabilities from an anti-money laundering perspective. The article addresses how financial institutions and crypto businesses can identify and mitigate emerging risks in digital asset transactions.

AI under AMLA: The Rules of Engagement in Financial Crime Compliance

ACAMS Today published an opinion piece examining how financial institutions can leverage artificial intelligence within Anti-Money Laundering Act compliance frameworks. The article explores the intersection of AI technologies and financial crime compliance obligations.

Minutes of the Board's Discount Rate Meetings - February and March 2026

The Federal Reserve Board released minutes from its February 9 and March 18, 2026 discount rate meetings. The meetings reviewed and determined the discount rates provided to depository institutions through the discount window. The Board noted that its process for setting the discount rate is distinct from the Federal Open Market Committee's process for setting the target range for the federal funds rate.

MSB Issuance Notice: Competitive Bidding for Monetary Stabilization Bonds

The Bank of Korea published an issuance notice for Monetary Stabilization Bonds (MSB) to be sold through competitive bidding. The announcement includes an attachment with the full notice details (document 03340-2903-0301). Market Operations Team contact information is provided at 02-759-4564. This is a routine open market operation notice.

Rural Communities: Worth the Investment

Federal Reserve Governor Michael S. Barr delivered a speech at the 'Strengthening America's Economy through Rural Investment' forum discussing challenges and opportunities in rural America. The speech highlights innovative financing solutions such as Community Development Financial Institutions (CDFIs) and New Markets Tax Credits as models for expanding economic opportunity. Barr shared observations from visits to rural communities including the Mississippi Delta and Montana tribal reservations, emphasizing creative approaches to addressing banking access gaps.

Quantum Computing Powers Daily Payments Security

NACHA published an educational article on April 14, 2026, outlining how quantum mechanics currently secures payment infrastructure and potential future threats from quantum computing to the payments industry. The article identifies risks including fraudulent transactions through false digital signatures and payment modification attacks. NACHA recommends that industry stakeholders audit payment infrastructures, vendor networks, and hardware modules including ATMs and POS terminals for quantum readiness.

Build Quantum-Safe Payments Readiness Plan Now

NACHA and its Payments Innovation Alliance Quantum Payments Project Team published guidance urging payments industry participants to build multi-year quantum-safe implementation plans. The guidance identifies "Harvest Now, Decrypt Later" (HNDL) as a systemic risk where the weakest cryptographic link threatens all participants. Organizations are advised to follow a three-phase quantum-safe readiness implementation road map covering assessment, planning, and migration.

Steps for Conducting Quantum-Safe Payments Risk Assessment

NACHA published an article outlining steps for payment stakeholders to assess quantum computing risks to their cryptographic infrastructure. The guidance recommends updating risk management plans to address quantum threats affecting external-facing applications, conducting vendor risk assessments of third-party processors and solution providers, and providing regular reporting to senior leadership and boards on inherent risks and mitigation controls.