Europe

Anti-Money Laundering

UK Trial Commences in £5bn Bitcoin Money Laundering Case

By Editors | 01/02/2024

Woman is charged for laundering GBP 5 billion stolen from more than 128,000 investors in China on behalf of her former employer.

Resolution & Recovery

UK PRA Fines HSBC Over Deposit Protection Rule Breaches

By Editors | 31/01/2024

HSBC incorrectly marked eligible accounts as “ineligible” for depositor protection. The fine is the second highest ever imposed by the PRA.

PEPs & Sanctions

EU Announces Human Rights Sanctions Against Russians

By Editors | 31/01/2024

Russia’s internet censorship agency and its chairperson were sanctioned, along with two judges and a prosecutor.

Cryptocurrency

ESMA Consults on New Guidelines for MiCA Regime

By Editors | 30/01/2024

Third-country crypto firms will be prohibited from soliciting EU clients unless the client is the “exclusive initiator” of the crypto-asset service.

PEPs & Sanctions

US, UK Target Iranian Assassinations Network With Sanctions

By Editors | 30/01/2024

The sanctioned individuals carried out “numerous acts of transnational repression including assassinations and kidnappings across multiple jurisdictions”.

Anti-Money Laundering

Italy Busts $1.9bn Tax Fraud Scheme Involving Chinese Shadow Banks

By Mark Johnston | 30/01/2024

Italian police uncover a tax fraud involving false invoices and Chinese underground banks, seizing assets worth EUR 350 million.

PEPs & Sanctions

UK Warns of Sanctions Evasion Through Art Storage Sector

By Editors | 29/01/2024

Art market participants should have the ability to conduct regular due diligence checks and identify any change in a client’s circumstances or suspicious activity.

CBDCs

UK Publishes Response to Digital Pound Consultation

By Editors | 28/01/2024

No final decision has been made to pursue a digital pound, but work will continue to explore its feasibility and potential design choices.

PEPs & Sanctions

US, UK Announce Sanctions on Four Houthi Officials

By Editors | 26/01/2024

Four officials were sanctions for attacks on ships that “threaten to disrupt international supply chains and the freedom of navigation”.