The US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued a raft of new sanctions under its Magnitsky human rights sanctions program. Belarusian President Alexander Lukashenko and his wife have been sanctioned for “gross violations of human rights […]
The Bank of England, Office of Financial Sanctions Implementation (OFSI) and the Financial Conduct Authority (FCA) have issued a joint statement offering guidance for the cryptoasset sector relating to sanctions evasion. With an unprecedented package of economic sanctions being imposed […]
The Financial Action Task Force (FATF), has held its latest plenary in Paris – attended by representatives of its 206 global members, the IMF, UN and World Bank – and has proposed new measures to make the fight against illicit […]
A raft of new measures to tackle dirty money and improve transparency related to company and property ownership are being expedited by the UK government following Russia’s invasion of Ukraine. The Economic Crime (Transparency and Enforcement) Bill — a key […]
The latest set of explosive revelations concerning bank accounts of the rich and powerful has seen Switzerland’s second largest bank, Credit Suisse, face accusations of widespread, systemic failures of due diligence. Suisse Secrets is an international investigation – involving more […]
Netherlands-based Rabobank is to allocate €249m towards improving its anti-money laundering (AML) policies and procedures, following instructions from the country’s central bank to remedy deficiencies.
Delays by the UK government in introducing legislation to combat economic crime are being questioned in a major new report. The Treasury Select Committee is calling for a raft of measures, including the creation of a new government department to […]
The European Banking Authority (EBA) has launched a central database for anti-money laundering and countering the financing of terrorism (AML/CFT), which it hopes will act as an “early warning tool” across the European Union. The European reporting system for material […]
The West African state of Mali has become the subject of new sanctions, imposed by neighboring countries in a bid to accelerate its delayed election timetable and return Mali to constitutional order. The 15-member Economic Community of West African States […]
Switzerland is one of the wealthiest countries in the world, with a highly developed economy and a GDP of over $800 billion. Switzerland’s financial profile is built on its banking industry which has had a reputation for secrecy and confidentiality […]
The European Banking Authority (EBA) has issued new guidance on the impact and scale of de-risking in the EU, and warned financial institutions that its increased use could indicate their anti-money laundering and combatting the financing of terrorism (AML/CFT) measures […]
The former CEO of Swedbank has been charged with fraud and market manipulation following investigations into money laundering in the Baltics. If convicted she could face up to six years in prison. Birgitte Bonnesen was chief executive of Sweden’s oldest […]
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