Europe

PEPs & Sanctions

EU Seeking Greater Certainty on Russia Sanctions Renewal Process

By Editors | 16/09/2024

The current process requires a unanimous vote from all EU member states every 6 months to renew the sanctions on Russia.

PEPs & Sanctions

UK Set to Launch Office of Trade Sanctions Implementation

By Editors | 16/09/2024

The office will be responsible for the civil enforcement of certain trade sanctions as they relate to UK services and overseas trade with a UK nexus.

Cryptocurrency

UK Introduces Bill to Clarify Legal Status of Digital Assets

By Thisanka Siripala | 16/09/2024

The legislation will formally classify crypto, NFTs and certain tokenised assets as property, enabling courts to more effectively handle disputes.

PEPs & Sanctions

UK Issues Sanctions on Ten Russian ‘Shadow Fleet’ Vessels

By Editors | 13/09/2024

This is the third time the UK has used its sanctions powers to target individual vessels that undermine sanctions and facilitate Russia’s oil trade.

Anti-Money Laundering

Swedish Court Sentences Former Swedbank CEO to Jail Term

By Nithya Subramanian | 13/09/2024

Birgitte Bonnesen was sentenced to 15 months in prison for providing misleading information about Swedbank’s money laundering issues in Estonia.

Capital Adequacy

UK Publishes 2nd Policy Statement on Basel III Implementation

By Manesh Samtani | 13/09/2024

The new rules will come into force on 1 January 2026, which is six months later than was stated in the December proposal.

PEPs & Sanctions

US Says China Providing Direct Support to Russian Military

By Editors | 12/09/2024

US Deputy Secretary of State Kurt Campbell said China is supplying items that are directly helping Russia’s military effort in Ukraine.

Fraud, Scams & Cybercrime

UK FCA to Update Guidance on Addressing Suspicious Payments

By Manesh Samtani | 12/09/2024

The updated guidance aims to support a new policy that will enable PSPs to delay payments when fraud or dishonesty is suspected.

Anti-Money Laundering

UK FCA Charges Man for Operating Illegal Crypto ATM Network

By Nithya Subramanian | 12/09/2024

The London resident is the first individual to be criminally prosecuted for unregistered crypto activity in the UK.