International

AML / KYC

Morgan Stanley Internal Documents Show Scale of AML Deficiencies

By Nithya Subramanian | 30/11/2024

Nearly a quarter of the bank’s international wealth accounts were reportedly flagged in 2023 for elevated money laundering risks.

Capital / Liquidity

BCBS Publishes Report on Implementing Positive Neutral CCyB

By Manesh Samtani | 29/11/2024

The report describes different jurisdictional frameworks for implementing a positive neutral CCyB and approaches to calibration and operation.

Market Infrastructure

Russian Central Bank Intervenes to Support Crashing Ruble

By Manesh Samtani | 29/11/2024

The ruble’s sharp fall to levels not seen since March 2022 is attributed to sanctions imposed by the US on Gazprombank.

Capital / Liquidity

BCBS Finalises Technical Amendments to Basel Framework

By Editors | 29/11/2024

The amendments concern the standardised approach to credit risk and the capital charge for Group 2a cryptoassets. An amendment to the CCR framework is also proposed.

Sanctions

New Zealand Targets Russian, Iranian Actors With New Sanctions

By Editors | 29/11/2024

The sanctions target those involved in the deployment of chemical weapons against Ukraine and the provision of Iranian weapons to Russia.

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.

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.

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.

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.