International

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    Sanctions

    Russia Importing UK Luxury Cars via Azerbaijan – Reports

    By Editors | 13/03/2024

    Azerbaijan received £273mn in vehicle imports from the UK in 2023, a 1,860% increase from the five-year period preceding 2022.

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    AML / KYC

    Wolfsberg Group Issues Updated Statement on Terrorism Financing

    By Manesh Samtani | 13/03/2024

    The statement has been updated from the 2002 version to reflect changes in terrorism, CTF measures, and the evolving nature of public-private cooperation.

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    Sanctions

    OFAC Sanctions Four for Aiding Bahrain-based Terrorist Group

    By Editors | 13/03/2024

    OFAC has sanctioned four individuals who fled Bahrain in 2018 to evade terrorism-related charges and wound up in Iran.

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    Crypto / Digital Assets

    Nigeria Detains Binance Execs After Inviting Them for Dialogue

    By Mark Johnston | 13/03/2024

    Two Binance executives have been detained in Nigeria following a visit to the country at the request of its government.

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    Crypto / Digital Assets

    Major FIs Conclude Blockchain Pilot on Canton Network

    By Editors | 13/03/2024

    Dozens of participating FIs settled transactions across 22 different permissioned blockchains that were connected to the Canton Network.

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    AML / KYC

    BRICS Establishes Council for Combating Money Laundering

    By Editors | 13/03/2024

    The BRICS nations also plan to create an organisation to fight money laundering and terrorist financing similar to the FATF.

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    Sanctions

    Russia Moves Ahead With Plan to Unblock Foreign-Listed Shares

    By Editors | 13/03/2024

    Under the plan, Russian private investors will be able to sell shares in overseas listed companies to foreigners with cash stuck in Russia.

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    Capital / Liquidity

    IADI Launches Review of Global Deposit Insurance Standards

    By Editors | 12/03/2024

    The review will apply the lessons from the 2023 banking turmoil, taking into account technology advancements and other emerging trends.

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    Sanctions

    OFAC Targets Financial Facilitators of al-Shabaab Militant Group

    By Editors | 12/03/2024

    OFAC said al-Shabaab, an al-Qa’ida-affiliated terrorist group, that is “responsible for some of the worst terrorist attacks in East Africa’s modern history”.

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    AML / KYC

    FATF Issues Final Guidance to Support Implementation of R.25

    By Editors | 12/03/2024

    The guidance explains requirements to obtain adequate, accurate and up-to-date UBO information for express trusts and similar legal arrangements.

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