Europe

AML / KYC

German Authorities Shut Down 47 Cryptocurrency Exchanges

By Nithya Subramanian | 20/09/2024

The crypto exchanges did not carry out identity and background checks on customers and allowed them to conduct financial transactions anonymously.

Sanctions

UK Imposes Trade Sanctions Targeting Iran Defence Industry

By Editors | 20/09/2024

The new measures are part of the UK’s response to reports that Iran has delivered ballistic missiles to Russia.

Sanctions

Armenia Accused of Facilitating Russian Sanctions Evasion

By Editors | 20/09/2024

NGOs from Azerbaijan claim that several EU countries including Greece and Cyprus are continuing to conduct trade with Russia through Armenia.

Crypto / Digital Assets

UK Banks Complete Experimental Phase of Digital Money Project

By Mark Johnston | 20/09/2024

UK Finance and its member banks have successfully completed the experimental phase of a tokenisation and CBDC platform.

Capital / Liquidity

French and German Banks Calling on RBI to Adjust Trading Rules

By Manesh Samtani | 19/09/2024

The existing rules would not be able to accommodate a third-party trading model proposed as a temporary solution to address ESMA’s derecognition of Indian CCPs.

AML / KYC

FINMA Confiscates $15m from Private Bank Mirabaud for AML Failures

By Nithya Subramanian | 19/09/2024

FINMA barred the bank from accepting high-risk clients and ordered it to overhaul its risk management, internal controls, and corporate governance.

AML / KYC

Europol Leads Takedown of Messaging Platform Used by Criminals

By Manesh Samtani | 19/09/2024

A total 51 suspects have been arrested, including 38 in Australia, where the platform’s mastermind was located and a drug lab was dismantled.

Crypto / Digital Assets

Switzerland’s SIX Explores Launching Crypto Exchange

By Thisanka Siripala | 18/09/2024

The platform is expected to cater to the growing institutional interest in the crypto space, rather than retail investors.

Enforcement

France Attempting to Use New Cybercrime Law Against Telegram Founder

By Editors | 18/09/2024

The LOPMI law, enacted in 2023 and as yet untested, is the first globally that gives a court the power to punish executives for abuse of the platforms they operate.