International

Enforcement

US Court Jails Two Over Sanctions Evasion Scheme

By Editors | 13/06/2024

A Chinese national and US citizen were jailed for attempting to broker illicit oil sales between Iran and China and launder the proceeds.

Crypto / Digital Assets

Terraform, Do Kwon Agree $4.6b Settlement With US SEC

By Editors | 13/06/2024

The settlement comes after a New York jury in April found Terraform Labs and Do Kwon liable on civil fraud charges.

Enforcement

US Authorities Arrest Two for Illegal Russia Export Scheme

By Editors | 13/06/2024

The two men engaged in a scheme to covertly sell snowmobiles to Russia through an intermediary company in Hong Kong.

ESG / Sustainability

BIS, MAS Develop Prototype Climate Risk Platform

By Nithya Subramanian | 13/06/2024

The platform uses NPL techniques to gather regulatory and climate data to help supervisors identify, monitor and manage climate risks.

Fintech / Regtech

Benefits of Tokenisation Are “Overexaggerated”: WFE Paper

By Nithya Subramanian | 13/06/2024

The WFE says tokenisation work should continue, but that some of the benefits claimed are “overexaggerated”.

Sanctions

US Expands Russia Sanctions Ahead of G7 Leaders Meeting

By Manesh Samtani | 13/06/2024

New sanctions target Russian financial infrastructure as well as entities in China, Hong Kong, Singapore and Thailand.

AML / KYC

Russia to Dirupt FATF Plenary in Singapore, Ukraine Warns

By Editors | 12/06/2024

Ukraine is reportedly warning that Russia will send officials to the FATF Plenary in an attempt to “contact, influence and pressure delegates”.

Capital / Liquidity

Bank Failures of 2023 Show Lack of Focus on Culture Risk

By Manesh Samtani | 12/06/2024

Starling Compendium says culture and conduct risk should be recognised by prudential regulators as sources of systemic risk.

ESG / Sustainability

ICVCM Unveils “High-integrity” Carbon Credits

By ESG Investor | 11/06/2024

ICVCM approved seven carbon-crediting methodologies that meet its high-integrity core carbon principles.