Europe

AML / KYC

UK Government Announces New National Fraud Strategy

By Editors | 04/05/2023

Cold calls for financial products will be banned. Banks may be given more time to process payments to allow suspicious payments to be investigated.

Sanctions

EU to Extend Sanctions Regime to Cover Corruption

By Manesh Samtani | 04/05/2023

The EU would be able to target serious acts of corruption worldwide with travel bans and asset freezes, similar to the US Magnitsky Act.

Capital / Liquidity

More Credit Suisse AT1 Bondholders Sue FINMA

By Editors | 04/05/2023

The suit means that investors representing up to a third of the $17bn in AT1 bonds issued by Credit Suisse have now launched legal action.

Capital / Liquidity

ESMA Follows Through with De-recognition of Indian CCPs

By Manesh Samtani | 03/05/2023

So far Indian markets have not faced disruptions. This is attributed to the concessions provided by French and German regulators.

Capital / Liquidity

ECB Scrutinising Bond Losses at European Banks

By Editors | 30/04/2023

The ECB is asking banks about their practices for hedging interest rate risk, including to assess whether risks have been shifted to nonbanks.

AML / KYC

UK Convicts Cash Couriers for Laundering Over $130m

By Editors | 27/04/2023

The couriers smuggled money from the UK to Dubai using vacuum-packed suitcases sprayed with coffee or air fresheners to evade detection.

Capital / Liquidity

Credit Suisse Reveals Scale of Outflows Pre-UBS Deal

By Manesh Samtani | 27/04/2023

UBS is expected to record up to $57bn in profits in Q2 as a result of the deal, the largest ever banking profit recorded.

AML / KYC

Swiss Prosecutors Indict Ex-PetroSaudi Executives in 1MDB Case

By Editors | 26/04/2023

The two former executives were paid by Jho Low to set up a joint venture that was used to embezzle $1.8bn from 1MDB.

Crypto / Digital Assets

UK FCA to Develop New Financial Promotions for Crypto Industry

By Mark Johnston | 26/04/2023

FCA executive director Sarah Pritchard said the new regime will apply to all firms marketing cryptoassets to UK consumers, regardless of where they are based.