Blog post by EU High Representative Josep Borrell | Rising international tensions and conflicts at the doorstep of Europe urge us to take our collective security into our own hands. Lately, four major Member States advocated making security and defence a top priority for the Union. I fully agree: since the beginning of the mandate of this Commission, we have placed our Common Security and Defence Policy at the very heart of the EU’s external policy. And while we have...

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The Federal Reserve today published the FraudClassifier model—a set of tools and materials to help provide a consistent way to classify and better understand the magnitude of fraudulent activity and how it occurs across the payments industry. The model was developed by the Fraud Definitions Work Group, which was comprised of Federal Reserve and payments industry fraud experts. "The FraudClassifier model can help address the industrywide challenge of inconsistent classifications for fraud involving ACH, wire, or check payments," said Jim Cunha, secure...

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“Addressing the tax challenges arising from the digitalisation of the economy is long overdue,” said OECD Secretary-General Angel Gurría. “All members of the Inclusive Framework should remain engaged in the negotiation towards the goal of reaching a global solution by year end, drawing on all the technical work that has been done during the last three years, including throughout the COVID-19 crisis. Absent a multilateral solution, more countries will take unilateral measures and those that have them already may...

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