Sanctions

Russia Importing UK Luxury Cars via Azerbaijan – Reports

13/03/2024

Azerbaijan received £273mn in vehicle imports from the UK in 2023, a 1,860% increase from the five-year period preceding 2022.

Sanctions

Switzerland Opens First Russia Sanctions-related Criminal Probe

13/03/2024

The company being probed is understood to be a commodity trading firm that used a UAE subsidiary to circumvent Swiss sanctions against Russia.

Sanctions

OFAC Sanctions Four for Aiding Bahrain-based Terrorist Group

13/03/2024

OFAC has sanctioned four individuals who fled Bahrain in 2018 to evade terrorism-related charges and wound up in Iran.

Securities / Derivatives

China Launches First Two Consumer Infrastructure REITs

13/03/2024

The new REITs, listed on the Shanghai Stock Exchange, are backed by shopping centres and supermarkets.

Crypto / Digital Assets

Major FIs Conclude Blockchain Pilot on Canton Network

13/03/2024

Dozens of participating FIs settled transactions across 22 different permissioned blockchains that were connected to the Canton Network.

AML / KYC

BRICS Establishes Council for Combating Money Laundering

13/03/2024

The BRICS nations also plan to create an organisation to fight money laundering and terrorist financing similar to the FATF.

Enforcement

Italy: UniCredit, NTT Data Fined Over 2018 Data Breach

13/03/2024

UniCredit failed to adopt technical and security measures capable of effectively countering cyberattacks, the Italian Data Protection Authority said.

Sanctions

Russia Moves Ahead With Plan to Unblock Foreign-Listed Shares

13/03/2024

Under the plan, Russian private investors will be able to sell shares in overseas listed companies to foreigners with cash stuck in Russia.

EU to Streamline Reporting Obligations for Financial Sector

12/03/2024

MEPs voted to adopt new rules to streamline reporting obligations and reduce the administrative burden for the EU’s financial sector.