INTERNATIONAL

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    Sanctions

    US Appeals Court Overturns Tornado Cash Sanctions

    By Editors | 28/11/2024

    The court said federal law only gives OFAC the authority to sanction property, and Tornado Cash’s smart contracts do not qualify as property.

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    AML / KYC

    APG Typologies Report Shines Light on Misuse of Legal Persons

    By Thisanka Siripala | 28/11/2024

    The APG’s 2024 typologies report says legal persons including shell companies have emerged as primary vehicles misused by criminals.

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    Capital / Liquidity

    APRA Establishes New “Specialist Geopolitical Risk Team”

    By Thisanka Siripala | 28/11/2024

    The “specialist geopolitical risk team” is collaborating with other regulators to examine how global shocks may reach Australia and impact the financial system.

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    AML / KYC

    Wolfsberg Group Defines Key Terms Related to Digital Assets

    By Manesh Samtani | 27/11/2024

    The definitions are intended to serve as a foundational reference for assessing ML/TF risks and developing appropriate controls for digital assets.

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    Sanctions

    US Imposes New Controls on Exports to Pakistan

    By Editors | 27/11/2024

    The new controls are being imposed on six categories of items being sought by entities on the Entity List for “regional stability reasons”.

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    Capital / Liquidity

    FSB Publishes 2024 List of Global Systemically Important Banks

    By Manesh Samtani | 27/11/2024

    Groupe Crédit Agricole has been moved to a higher bucket and Bank of America has been moved to a lower bucket. There are no other changes.

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    Sanctions

    Hong Kong Has Become a Money Laundering Hub, US Lawmakers Say

    By Editors | 27/11/2024

    US lawmakers are calling for a re-evaluation of the treatment of Hong Kong banks, saying the city has become a hub for money laundering and sanctions evasion.

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    Sanctions

    UK Targets Russian Shadow Fleet With New Sanctions Package

    By Editors | 27/11/2024

    The UK sanctioned 30 ships in Russia’s shadow fleet and 2 insurance companies for enabling them to generate oil revenues.

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    Sanctions

    Japan Preparing to Ramp Up Sanctions on North Korea, Russia

    By Editors | 26/11/2024

    Officials are said to be particularly concerned about North Korean troop deployments to Russia and the implications for peace and security in the region.

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    Fintech / Regtech

    IOSCO Publishes Final Guidance on Post Trade Risk Reduction Services

    By Manesh Samtani | 26/11/2024

    The guidance addresses risks relating to control and governance around algorithms, fair treatment of participants, data protection, and other areas.

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