Europe

AML / KYC

Italy Uncovers Major VAT Fraud Linked to Chinese Money Laundering Network

By Nithya Subramanian | 29/10/2024

The operation spanned 20 Italian cities, leading to the seizure of high-end assets and the arrest of seven suspects, including two alleged ringleaders.

Sanctions

US Finalised $20b Portion of G7 Loan for Ukraine

By Editors | 24/10/2024

The rest of the $50bn loan will be provided by other G7 allies. Earnings from frozen Russian assets will be used for repayments.

Market Infrastructure

SIX Signs Cooperation MoU With Hong Kong’s CMU OmniClear

By Manesh Samtani | 24/10/2024

SIX and the HKMA subsidiary will cooperate to unlock further cross-border investment opportunities between Switzerland and Hong Kong.

Sanctions

Switzerland Adopts More Measures from EU’s 14th Russia Package

By Editors | 21/10/2024

Switzerland will not adopt the EU text that requires companies to prevent circumvention via their subsidiaries “to the best of their ability”.

Fintech / Regtech

UK Government Consults on Legislation to Regulate BNPL

By Editors | 21/10/2024

BNPL providers will have to ensure consumers receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise.

Fintech / Regtech

FCA Launches “AI Lab” to Support Financial Sector Innovation

By Manesh Samtani | 20/10/2024

The FCA’s Jessica Rusu said the AI Lab will help firms overcome challenges they face in building and implementing AI solutions.

Crypto / Digital Assets

Euroclear Acquires Strategic Stake in Singapore’s Marketnode

By Nithya Subramanian | 19/10/2024

Euroclear said it aims to participate in establishing a key APAC market infrastructure designed to simplify the management of funds flows and reduce settlement times.

ESG / Sustainability

EEX to Help Develop Hydrogren Trading Market in India

By Editors | 19/10/2024

The project will be supported by funding from the German government, which aims to promote green hydrogen projects in selected emerging markets.

Sanctions

UK Sanctions Another 22 Russian Shadow Fleet Vessels

By Editors | 18/10/2024

The UK also sanctioned Russian gas company Rusgazdobycha JSC, to ratchet up pressure on the Russian gas industry.