Sanctions

AML / KYC

US Treasury Launches Amazon Initiative to Combat Nature Crimes

By Nithya Subramanian | 30/07/2024

The initiative will enable authorities in Amazon Basin countries to pursue money laundering investigations against illicit actors involved in nature crimes.

AML / KYC

A Whole New World for the Financial Action Task Force?

By Fatima Alsancak | 29/07/2024

With the next round of country assessments starting, the new FATF President has a lot of work to do over the next two years.

Sanctions

RUSI Publishes Findings from 1st Meeting of New Sanctions Taskforce

By Manesh Samtani | 29/07/2024

The taskforce participants identified several deficiencies that undermine the effectiveness of UK sanctions and “require government attention”.

Sanctions

EU Disburses First Funds Generated from Frozen Russian Assets

By Editors | 27/07/2024

The €1.5bn instalment will be used to support Ukraine, in line with an EU-wide agreement on how profits generated from frozen Russian central bank assets can be used.

Enforcement

OFAC Fines State Street for Sanctions Violations by Subsidiary

By Editors | 27/07/2024

Charles River Systems, acquired by State Street in 2018, redated and reissued invoices for Sberbank and VTB Bank subsidiaries to circumvent sanctions restrictions.

AML / KYC

Russian Actors ‘Ubiquitous’ in Global Crypto Crime: TRM Labs

By Editors | 27/07/2024

Sanctioned Russia-based crypto exchange Garantex accounted for 82% of crypto transactions associated with all sanctioned entities internationally in 2023.

Sanctions

Ukraine Calls on Hong Kong to Prevent Sanctions Evasion by Russia

By Editors | 26/07/2024

Hong Kong says it does not implement unilateral sanctions imposed by other countries, but does enforce sanctions imposed by UNSC.

AML / KYC

Humanitarian Crisis in Gaza Being Exploited for Terror Financing

By Ranamita Chakraborty | 26/07/2024

Singapore’s Internal Security Department warns that charities and NGOs are being used by Hamas networks to raise funds globally.

Crypto / Digital Assets

UK FCA Fines Coinbase Unit for ‘Repeated’ Regulatory Breaches

By Editors | 26/07/2024

The Coinbase payments subsidiary provided payment services to more than 13,000 “high-risk” customers, despite being subject to restrictions imposed by the FCA.