International

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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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    Big Picture

    INTERPOL Unveils Results of Global Fraud Risk Assessment

    By Editors | 12/03/2024

    The assessment specifically identifies Asia as being the “focal point” of pig butchering fraud schemes, especially in poorer countries across the region.

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    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.

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    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.

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    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.

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