International

PEPs & Sanctions

New Zealand Targets Russian, Iranian Actors With New Sanctions

By Editors | 29/11/2024

The sanctions target those involved in the deployment of chemical weapons against Ukraine and the provision of Iranian weapons to Russia.

Reporting & Disclosures

EU to Simplify ESG Rules Amid Criticism of Over-Regulation

By Nithya Subramanian | 29/11/2024

The European Commission plans to reduce compliance burdens on businesses by streamlining existing ESG frameworks.

PEPs & Sanctions

US Appeals Court Overturns Tornado Cash Sanctions

By Editors | 28/11/2024

The court said federal law only gives OFAC the authority to sanction property, and Tornado Cash’s smart contracts do not qualify as property.

Anti-Money Laundering

APG Typologies Report Shines Light on Misuse of Legal Persons

By Thisanka Siripala | 28/11/2024

The APG’s 2024 typologies report says legal persons including shell companies have emerged as primary vehicles misused by criminals.

Emerging Prudential Risks

APRA Establishes New “Specialist Geopolitical Risk Team”

By Thisanka Siripala | 28/11/2024

The “specialist geopolitical risk team” is collaborating with other regulators to examine how global shocks may reach Australia and impact the financial system.

Anti-Money Laundering

Wolfsberg Group Defines Key Terms Related to Digital Assets

By Manesh Samtani | 27/11/2024

The definitions are intended to serve as a foundational reference for assessing ML/TF risks and developing appropriate controls for digital assets.

PEPs & Sanctions

US Imposes New Controls on Exports to Pakistan

By Editors | 27/11/2024

The new controls are being imposed on six categories of items being sought by entities on the Entity List for “regional stability reasons”.

Capital Adequacy

FSB Publishes 2024 List of Global Systemically Important Banks

By Manesh Samtani | 27/11/2024

Groupe Crédit Agricole has been moved to a higher bucket and Bank of America has been moved to a lower bucket. There are no other changes.

PEPs & Sanctions

Hong Kong Has Become a Money Laundering Hub, US Lawmakers Say

By Editors | 27/11/2024

US lawmakers are calling for a re-evaluation of the treatment of Hong Kong banks, saying the city has become a hub for money laundering and sanctions evasion.