International

AML / KYC

Small German Bank Suspected of Helping Iran Evade Sanctions – Report

By Editors | 13/02/2024

BaFin has been investigating Hamburg-based Varengold Bank since last year, while APAS has been investigating its independent auditor, PwC.

Sanctions

OFAC Announces Russian Diamond Ban, Price Cap Sanctions

By Editors | 09/02/2024

Import ban on Russian diamonds starts 1 March 2024. New sanctions target UAE-based entities and an oil tanker.

ESG / Sustainability

Investors Embrace GRI Biodiversity Standard, Acknowledge Systemic Risk

By Ranamita Chakraborty | 09/02/2024

GRI’s Harold Pauwels tells Regulation Asia that the financial sector acknowledges that biodiversity impacts bring associated risks to investor portfolios.

ESG / Sustainability

IIGCC Releases Derivatives, Hedge Funds Guidance

By ESG Investor | 09/02/2024

The guidance provides advice to hedge fund managers on how to report on the real-economy impact of their holdings and better support net zero investment strategies.

ESG / Sustainability

Disclosure Progress “Much too Slow” – CDP

By ESG Investor | 08/02/2024

The number of firms disclosing rose 24% in 2023, but only slow progress is being made to improve the quality of climate and nature.

Crypto / Digital Assets

Ransomware Losses in 2023 Exceeded $1bn in Crypto : Report

By Nithya Subramanian | 08/02/2024

Chainalysis crypto crime report attributes last year’s surge in ransomware attacks to heightened intensity and sophistication by diverse actors.

Sanctions

Taiwan Adds More High Tech Items to Export Control List

By Editors | 08/02/2024

The expanded export controls list is part of a response to reports that Taiwan-made machine tools have ended up in Russia.

Fintech / Regtech

Cybersecurity is the Biggest Risk for Global Banks: Survey

By Nithya Subramanian | 07/02/2024

The EY-IIF report says cyber threats are constantly morphing with evolving links to geopolitical, technology and third-party risks.

AML / KYC

Iraq Bars Eight Local Banks from Accessing US Dollars

By Editors | 06/02/2024

The move came days after a visit to Iraq by a top US official to discuss measures to protect the financial systems from criminal, corrupt and terrorist actors.