Financial Crime

PEPs & Sanctions

US Disburses $20bn Portion of G7 Loan to Support Ukraine

By Editors | 12/12/2024

The funds, part of the $50bn G7 loan package, will be repaid with earnings from the  Russian assets frozen by sanctions in Europe.

PEPs & Sanctions

UK to Help Cyprus Establish Sanctions Implementation Unit

By Editors | 12/12/2024

That new unit will have new analytical tools and powers to investigate sanctions evasion and ensure the effectiveness of Russia-related sanctions.

Anti-Money Laundering

AUSTRAC Launches Consultation on New AML/CTF Rules Framework

By Manesh Samtani | 12/12/2024

This consultation covers several areas including AML/CTF programmes, risk assessments, customer due diligence and travel rule information requirements.

Anti-Bribery & Corruption

Former Chairman of China Everbright Group Handed Jail Sentence

By Editors | 12/12/2024

Tang Shuangning embezzled public property while at the PBOC in 2003 and accepted bribes in various positions between 2000 and 2017.

Anti-Money Laundering

AUSTRAC Gifts TAIPAN Technology System to PNG’s FIU

By Thisanka Siripala | 12/12/2024

AUSTRAC has now delivered TAIPAN to ten FIUs across the Pacific, enabling them to identify suspicious financial patterns indicative of illicit activity.

PEPs & Sanctions

Iran, Russia to Soon Formalise Anti-Sanctions Alliance – Reports

By Editors | 11/12/2024

Both Iran and Russia are also planning to allow the use of cryptocurrencies as a way to circumvent Western sanctions.

Structural Regulation

China Launches Antitrust Probe into US Chip Giant Nvidia

By Editors | 11/12/2024

The probe is seen as a geopolitical rather than a regulatory or legal action, in retaliation against the US’ latest curbs on China’s chip sector.

KYC & CDD

RBNZ Calls on Banks to Enhance Financial Inclusion Initiatives

By Sanday Chongo Kabange | 11/12/2024

The RBNZ identified good practices for deposit takers to consider embedding in their current practices to support financial inclusion.

Fraud, Scams & Cybercrime

US SEC Fines Morgan Stanley Smith Barney Over Theft of Client Funds

By Thisanka Siripala | 11/12/2024

The SEC said the firm failed to prevent four financial advisors from misappropriating nearly $10mn of client funds.