Sanctions

Sanctions

EBA Proposes New Reporting Requirements for Payments Firms

By Editors | 04/08/2024

PSPs would have to report on the share of instant transfers, both domestic and cross-border, that were rejected due to the application of sanctions.

Sanctions

OFAC Sanctions More Houthi Procurement Facilitators

By Editors | 02/08/2024

The sanctions target “key actors” located in China, Hong Kong, and Yemen who have “directly supported” the Houthis’ weapons procurement efforts.

Sanctions

China Adjust Export Controls for Drones and Related Tech

By Editors | 02/08/2024

The measures explicitly ban the export of all civilian drones that are intended for “non-peaceful purposes” such as terrorist and military activities.

Crypto / Digital Assets

Russia Advances Bill to Enable Cross-border Payments in Crypto

By Editors | 01/08/2024

The law is expected to take effect on 1 September, formally allowing the use of crypto in payments for international trade transactions.

Sanctions

Austria’s Raiffeisen Working to Sell 60pc of Russian Unit

By Editors | 31/07/2024

Raiffeisen is trying to coordinate with Russian, European and US authorities to sell a 60% stake in its Russian unit.

Sanctions

OFAC Targets Iran Weapons Programmes With New Sanctions

By Editors | 31/07/2024

The sanctions cover two procurement networks that help Iran obtain components for weapons systems, including Hong Kong and China-based targets.

Enforcement

UK Secures First Forfeiture from Sanctions Evasion Case

By Editors | 30/07/2024

Around $1mn was forfeited after being frozen since 2022. The funds were held by the wife of Petr Aven, a sanctioned Russian oilgarch.

AML / KYC

US Treasury Launches Amazon Initiative to Combat Nature Crimes

By Nithya Subramanian | 30/07/2024

The initiative will enable authorities in Amazon Basin countries to pursue money laundering investigations against illicit actors involved in nature crimes.

AML / KYC

A Whole New World for the Financial Action Task Force?

By Fatima Alsancak | 29/07/2024

With the next round of country assessments starting, the new FATF President has a lot of work to do over the next two years.