Europe

PEPs & Sanctions

UK Suspends 30 Export Licences to Israel Over Humanitarian Concerns

By Editors | 03/09/2024

30 of 350 export licences to Israel were suspended due to a “clear risk” that items might be used to violate international humanitarian law.

PEPs & Sanctions

UK Imposes Sanctions on Iranians for ‘Destabilising’ Activities

By Editors | 03/09/2024

One entity and three individuals were sanctioned for supporting activities intended to the UK and other countries.

PEPs & Sanctions

EU Asked to Impose Stronger Measures Against Sanctions Circumvention

By Editors | 02/09/2024

Josep Borrell also calls for stronger measures to prevent sanctions circumvention by EU companies, citing rising exports to “some states which are close to Russia”.

Anti-Money Laundering

UK Jails Members of Chinese Money Laundering Group

By Editors | 31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.

Capital Adequacy

UK to Postpone Basel III Implementation to Jan 2026

By Editors | 30/08/2024

The general election in mid-May left UK regulators unable to publish their rules in time for the original 1 July 2025 timeline.

Data Privacy

EU, China Launch Formal Discussions on Cross-border Data

By Editors | 29/08/2024

The discussions seek to find ways for EU businesses to receive non-personal data from China without breaking the country’s data laws.

Anti-Money Laundering

NYDFS Fines Nordea Bank $35mn for AML Failures

By Editors | 29/08/2024

NYDFS said Nordea’s deficient AML programme exposed it to a “high risk of criminal abuse” which was “imported” to New York’s financial system.

Data Privacy

Europol, New Zealand Can Share Personal Data to Combat Crime

By Ranamita Chakraborty | 29/08/2024

A new agreement has entered into force that allows Europol and New Zealand authorities to exchange personal data to combat crime.

Fraud, Scams & Cybercrime

Swiss Court Sentences Two to Jail for Defrauding 1MDB

By Manesh Samtani | 29/08/2024

Two executives of an oil exploration company known as PetroSaudi were sentenced for defrauding 1MDB out of more than $1.8bn.