EUROPE

Sanctions

EU Asked to Impose Stronger Measures Against Sanctions Circumvention

By Editors | 02/09/2024

Josep Borrell also calls for stronger measures to prevent sanctions circumvention by EU companies, citing rising exports to “some states which are close to Russia”.

Enforcement

UK Jails Members of Chinese Money Laundering Group

By Editors | 31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.

Capital / Liquidity

UK to Postpone Basel III Implementation to Jan 2026

By Editors | 30/08/2024

The general election in mid-May left UK regulators unable to publish their rules in time for the original 1 July 2025 timeline.

Market Infrastructure

EU, China Launch Formal Discussions on Cross-border Data

By Editors | 29/08/2024

The discussions seek to find ways for EU businesses to receive non-personal data from China without breaking the country’s data laws.

AML / KYC

NYDFS Fines Nordea Bank $35mn for AML Failures

By Editors | 29/08/2024

NYDFS said Nordea’s deficient AML programme exposed it to a “high risk of criminal abuse” which was “imported” to New York’s financial system.

AML / KYC

Europol, New Zealand Can Share Personal Data to Combat Crime

By Ranamita Chakraborty | 29/08/2024

A new agreement has entered into force that allows Europol and New Zealand authorities to exchange personal data to combat crime.

AML / KYC

Swiss Court Sentences Two to Jail for Defrauding 1MDB

By Manesh Samtani | 29/08/2024

Two executives of an oil exploration company known as PetroSaudi were sentenced for defrauding 1MDB out of more than $1.8bn.

AML / KYC

French Prosecutors File Charges Against Telegram CEO

By Editors | 28/08/2024

A French court ruled that there were grounds to formally investigate Pavel Durov, releasing him on bail and ordering him to remain in France.

FCA Chair Accused of Breaching Whistleblower Confidentiality

By Editors | 26/08/2024

FCA chair Ashley Alder reportedly forwarded a whistleblower’s correspondence to other staff members, revealing their identity without their consent.