International

KYC & CDD

Wolfsberg Group Publishes Updated Country Risk FAQs

By Manesh Samtani | 04/03/2024

FIs must strike a balance in how they assess country risk and apply their consideration in customer and other risk frameworks.

Anti-Bribery & Corruption

US Secures $661m Settlement from Swiss Oil Trader for FCPA Violations

By Manesh Samtani | 04/03/2024

Over a nearly a decade, Gunvor Group paid more than $97mn to secure business from Ecuador, generating $384mn in illicit profits.

PEPs & Sanctions

Boeing Fined $51m for Arms Export Control Violations

By Editors | 04/03/2024

Boeing is also required to engage a special compliance officer for at least two years and spend a further $24mn on strengthening its compliance programme.

PEPs & Sanctions

EU Commission Launches New Sanctions Tracking Tool

By Editors | 04/03/2024

The tracker shows that a total of 3,677 individuals and 1,018 entities are currently listed across the EU’s 35 sanctions regimes.

PEPs & Sanctions

Japan Announces New Round of Sanctions on Russia

By Editors | 04/03/2024

The sanctions target a total of 12 individuals and 37 entities, add new export restrictions, and implement the G7 ban on Russian diamonds.

Anti-Money Laundering

Russia Re-rated on Four FATF Recommendations

By Editors | 04/03/2024

Russia was upgraded on R.6, R.7, and R.25, and downgraded on R.15 because digital currency activities are largely unregulated.

PEPs & Sanctions

Canada Sanctions Six Over Death of Alexei Navalny

By Editors | 03/03/2024

The targets include senior officials and high-ranking employees of Russia’s prosecution, judicial and correctional services.

PEPs & Sanctions

G7 Ban on Indirect Imports of Russian Diamonds Takes Effect

By Editors | 03/03/2024

The World Federation of Diamond Bourses says the ban on Russia-produced diamonds will also harm non-Russian manufacturers and traders.

PEPs & Sanctions

Switzerland Adopts EU’s 13th Russia Sanctions Package

By Editors | 01/03/2024

The package adds a further 106 individuals and 88 entities and organisations to Switzerland’s sanctions list.