International

Fintech / Regtech

EU Commission Launches Consultation on Use of AI in Finance

By Editors | 23/06/2024

The consultation and a series of workshops target all financial stakeholders, covering use cases, benefits, barriers, risks and stakeholder needs.

Sanctions

Japan Foreign Ministry Announces New Russia Sanctions

By Editors | 22/06/2024

The new measures include a prohibition on exports to 14 entities based in Russia, as well as companies based in China, Hong Kong, India, Kazakhstan and Uzbekistan.

Sanctions

EU Ambassadors Agree on 14th Russia Sanctions Package

By Editors | 22/06/2024

The package includes sanctions on Russia’s LNG sector, the SPFS financial messaging system, and entities in third countries that allegedly helped Russia.

Sanctions

OFAC Sanctions 12 Execs of Cybersecurity Firm Kaspersky Lab

By Editors | 22/06/2024

Kaspersky products, services, and software updates will also be banned in the US starting from 29 September due to the company’s Russian ties.

Capital / Liquidity

EU Confirms Decision to Postpone FRTB Implementation

By Editors | 20/06/2024

Commissioner Mairead McGuinness said postponing FRTB ensures a global level playing field for European banks that compete with global players.

Sanctions

Canada Designates Iran’s IRGC as Terrorist Organisation

By Editors | 20/06/2024

The designation means Canadian FIs are required to immediately freeze the property of the IRGC, and it is a criminal offence for Canadians to support the group.

Sanctions

Canada Imposes More Sanctions Over Alexei Navalny’s Death

By Editors | 19/06/2024

This is Canada’s 5th package of sanctions imposed in response to the poisoning, imprisonment and death of Russian opposition leader Alexei Navalny.

AML / KYC

US Uncovers Drug Cartel Alliance With Chinese Money Launderers

By Editors | 19/06/2024

US authorities uncovered a partnership between Mexico’s Sinaloa Cartel and a Chinese underground money laundering syndicate.

Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

By Editors | 19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.