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Europe
Anti-Money Laundering
UK to Implement First Phase of Economic Crime Act
By Mark Johnston | 26/01/2024
UK outlines first set of measures under Economic Crime and Corporate Transparency Act to enhance transparency and accountability of companies.
Liquidity Risk
ECB Asks Banks to Monitor Social Media for Liquidity Risks
By Mark Johnston | 26/01/2024
The ECB has asked some banks to set up teams to monitor social media platforms for negative sentiment that could trigger a bank run.
Cybersecurity
UK Government Seeks Feedback on Cyber Governance Code
By Mark Johnston | 25/01/2024
The government said that cyber threats should be prioritised as a key business risk, alongside financial and legal challenges.
PEPs & Sanctions
US Senate Committee Approves REPO for Ukrainians Act
By Manesh Samtani | 25/01/2024
If the legislation gets signed into law, it would pave the way for the US to confiscate Russian assets. However, the EU is unlikely to do the same.
Fraud, Scams & Cybercrime
US, UK Join Australia in Sanctioning Russian Cyber Attacker
By Mark Johnston | 24/01/2024
The US and UK took action “in solidarity with Australia” because of the similar risk Aleksandr Ermakov presents to both countries.
PEPs & Sanctions
US, UK, Australia Announce New Round of Hamas Sanctions
By Editors | 23/01/2024
OFAC said the sanctions target Hamas, its financiers, and its international financial infrastructure, including crypto transfers.
PEPs & Sanctions
EU Discusses 13th Sanctions Package for Russia – Report
By Editors | 22/01/2024
The package could include further listings, more trade restrictions. and cracking down on Russia’s ability to circumvent sanctions via third countries.
PEPs & Sanctions
US Sanctions Prompt Turkish Banks to Reject Russian Payments
By Editors | 22/01/2024
Turkish banks are now refusing to accept payments from Russian banks for exports, due to the threat of US sanctions.
Anti-Money Laundering
EU Council, Parliament Reach Provisional Agreement on AMLD6
By Manesh Samtani | 18/01/2024
The scope of the AML rules is broadened to include cryptoassets, luxury goods, football clubs and golden visas. There is also an EU-wide cash payment limit of EUR 10,000.
Sustainable Finance
UK FCA Forms New Sustainability Working Group for Advice Sector
By Editors | 18/01/2024
The working group will report in the second half of 2024 on how the financial advice sector can deliver good sustainable finance practices.
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