International

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    PEPs & Sanctions

    UK Launches Inquiry to Assess Russia Sanctions Programme

    By Editors | 05/03/2024

    The inquiry will also explore the confiscation of frozen Russian assets and whether sanctions should cover buyers of Russian oil and gas.

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    Payments & Settlements

    BIS Explores Design Features of Fast Payment Systems

    By Editors | 05/03/2024

    New BIS article outlines the main design features of fast payment systems that may foster adoption, such as allowing non-bank participation.

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    PEPs & Sanctions

    US Sanctions Zimbabwe’s President, Other Officials

    By Editors | 05/03/2024

    The sanctions were issued under the Magnitsky programme. The Zimbabwe Sanctions Regulations have been terminated.

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    Cryptocurrency

    Cayman Islands Launches Crypto Consultation Using GitHub

    By Nithya Subramanian | 05/03/2024

    Software coding collaboration platform GitHub is being used for the first time to collate public feedback on the draft legislation.

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    CBDCs

    UDPN Launches “All-in-One” Digital Currency Sandbox

    By Editors | 05/03/2024

    The sandbox contains technologies for CBDC, tokenised deposits, stablecoins, purpose-bound money, and security and bond tokenisation systems.

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    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.

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    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.

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    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.

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    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.

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    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.

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