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By Alex Lennane
IATA could face a serious backlash from CASS payments system participants – as well as financial supervisory authorities – over allegations of financial irregularities.
IATA has been reported to German financial authority Bafin over potentially significant issues in its CASS system.
It is claimed that IATA is advancing funds, but has not been enabling CASS members to see any exposure to risks.
This has been called “a serious problem”, and “dangerous” to CASS participants.
It is also unclear whether IATA has the correct licence to offer credit, ...
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