International

AML / KYC

Canadian FIs Required to Treat Russia as FATF-Blacklisted

By Editors | 12/03/2024

A ministerial directive requires Canadian FIs to treat every financial transaction connected to Russia as high-risk regardless of size.

Crypto / Digital Assets

Bankrupt BlockFi to Achieve Full Recovery for Customers

By Editors | 11/03/2024

BlockFi reached an agreement allowing it to recover $874.5mn from the estates of FTX and Alameda Research, subject to approval by a US bankruptcy judge.

Enforcement

Montenegro Approves Extradition of Do Kwon to South Korea

By Mark Johnston | 11/03/2024

Do Kwon now faces extradition to South Korea rather than the US after 23 March following a new court ruling.

Sanctions

EU States Step Up Efforts to Prevent Sanctions Circumvention

By Editors | 11/03/2024

Cases in Finland, Lithuania, Austria, Germany and Georgia show the pervasive the issue is, as well as signs that a deeper crackdown is underway.

Sanctions

Iran Court Allows Confiscation of US Oil in Response to Sanctions

By Editors | 10/03/2024

Proceeds from the confiscated oil will be used to compensate victims of a rare skin disease who have been unable to access certain medical items due to US sanctions.

Sanctions

Canada Announces New Iran Sanctions for Human Rights Abuses

By Editors | 10/03/2024

The sanctions target two individuals for their participation in the “violent repression of Iranian citizens, targeting in particular women and girls”.

AML / KYC

INTERPOL Updates Guidance on AI Innovation in Law Enforcement

By Editors | 10/03/2024

The updated toolkit provides additional guidance for law enforcement agencies on AI governance, ethics and strategy development.

Securities / Derivatives

EMEs Can Improve Shock Resilience With Better Hedging Markets

By Manesh Samtani | 09/03/2024

The BIS finds that emerging markets with a more diverse investor base and better-developed hedging markets tend to have more resilient government bond markets.

Capital / Liquidity

BCBS Proposes Revisions to Address ‘Window-Dressing’

By Manesh Samtani | 08/03/2024

The BCBS proposes to require banks to report and disclose most G-SIB indicators based on average values over the reporting year, rather than year-end values.