The Financial Stability Board (FSB) has announced the establishment of a forum on cross-border payments data, a key outcome from the FSB's recommendations for data frameworks related to cross-border payments published in December 2024. The forum seeks to bring together experts in payments, anti-money laundering and countering terrorist financing, sanctions and data privacy and protection, to strengthen cooperation on data-related issues in cross-border payments. Working with international organisations, including with the Financial Action Task Force (FATF) and the Organisation for Economic Cooperation and Development (OECD), the forum will serve as a platform for dialogue, information exchange and research, helping to identify and address inconsistencies in global data frameworks. An advisory body comprised of private sector representatives will also be created to provide industry perspectives and expertise to the forum. Its first meeting will be held in May.
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