Years of economic and political instability have resulted in tighter sanctions being placed on Venezuela by most of the major countries that issue sanctions. A decades-long over-reliance on oil reserves and widespread political corruption are but two long-standing contributors to […]
India’s Finance Minister has highlighted the importance of technology in the regulation of cryptoassets during a panel discussion hosted by the International Monetary Fund (IMF). Nirmala Sitharaman told the panel that there were concerns about digital assets in her country […]
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory on Kleptocracy and Foreign Public Corruption, advising firms on how to focus their efforts to detect the proceeds of foreign public corruption. Tackling corruption has been a key strategic financial […]
UAE regulator the Dubai Financial Services Authority (DFSA) has announced a new regulatory framework for whistleblowing that will enable those reporting misconduct to access better protection. Comprehensive whistleblower protections and processes are a cornerstone of anti-money laundering (AML) efforts and […]
An internationally coordinated operation has seen the US place sanctions on notorious Irish organized crime group Kinahan, key members of its controlling family, associates, and associated businesses. A $5m reward for information leading to the arrest or conviction of gang […]
The EU has issued new guidance on the risks associated with foreign direct investments (FDI), targeting Russia and Belarus in light of military aggression against Ukraine. With five packages of sanctions already imposed on Russia, the EU emphasizes that FDI […]
Singapore’s significant Financial Services and Markets (FSM) Bill has been approved by the country’s parliament. The bill is set to expand the powers of the Monetary Authority of Singapore (MAS) and address regulatory weaknesses in the cryptoasset space. It marks […]
New planned AML regulations in the EU will reinforce the importance of a risk-based approach for banks. Automated, scalable adverse media solutions are an important component of this, enabling banks to conduct comprehensive customer risk assessments, taking into account a […]
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated 21 entities and 13 individuals as part of a crackdown on Kremlin illicit procurement networks and tech companies who are helping fuel the conflict in Ukraine by […]
The UK government has announced plans for stablecoins to become a recognized form of payment in the country, as part of a wider plan to boost the UK’s reputation as a hub for digital payment companies. In a statement Chancellor […]
An extensive report into the adequacy of Australia’s anti-money laundering and combating the financing of terrorism (AML/CFT) measures has condemned a delay in expanding the scope of the country’s regulations. The Senate committee report focuses on the failure to expand […]
The Financial Action Task Force (FATF) has warned that financial flows from migrant smuggling may be at risk of money laundering and terrorist financing (ML/FT) and urged authorities to “follow the money” linked to this criminal activity. In its latest […]
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