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Sanctions
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.
AML / KYC
US, UK, South Korea Warn of DPRK Espionage Campaign
By Editors | 26/07/2024
Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.
Sanctions
Russia Progresses Bill to Allow Foreign Banks to Open Branches
By Editors | 26/07/2024
The bill would enable foreign banks to open branches in Russia which they could then use to settle cross-border payments.
Sanctions
UniCredit Drops Part of Appeal Against ECB’s Russia Exit Orders
By Editors | 25/07/2024
UniCredit said it has received “sufficient clarity” from the ECB on certain parts of its application to the GCEU.
Sanctions
Australia Imposes First Sanctions Against Israelis in West Bank
By Editors | 25/07/2024
Seven Israelis and a youth group were sanctioned for their involvement in violent attacks against Palestinian communities.
Sanctions
ECB to Develop Framework for Geopolitical Risk Assessments
By Editors | 25/07/2024
The ECB is working to develop a framework that it can use to deal with the impacts of geopolitical risks such as sanctions on EU banks.
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