International

Cybersecurity

G7 Cyber Expert Group Publishes Reconnection Best Practices

By Manesh Samtani | 24/06/2025

New paper sets out best practices for financial firms reconnecting after cyber incidents, emphasising a phased approach and transparency.

Conduct, Culture & Accountability

Financial Sector Faces a Crossroads of Trust, Regulation, and AI – Report

By Manesh Samtani | 24/06/2025

New Starling Trust report warns that a “trust crisis”, coupled with evolving regulations and the rise of AI, is creating unprecedented challenges for the financial sector.

PEPs & Sanctions

New US Sanctions Target Iran Defence Procurement, Houthi Oil Smuggling

By Manesh Samtani | 22/06/2025

The sanctions target entities in Iran, China, Singapore, Hong Kong and Turkiye for supporting the procurement of sensitive machinery for Iran’s defence industry.

PEPs & Sanctions

FATF Calls for Stronger Global Response to Proliferation Financing Risks

By Manesh Samtani | 22/06/2025

New FATF report calls for global action to prevent the misuse of financial channels, including crypto, to bypass UN sanctions and fund weapons programmes.

Emerging Prudential Risks

FSB Flags Vulnerabilities in Non-Bank Commercial Real Estate Investors

By Manesh Samtani | 20/06/2025

FSB identifies liquidity mismatches, leverage, and valuation opacity as key vulnerabilities in non-bank commercial real estate investors.

PEPs & Sanctions

New Zealand Expands Sanctions Net to Russia’s ‘Shadow Fleet’

By Editors | 20/06/2025

New Zealand broadens Russia sanctions to target ‘shadow fleet’ along with individuals and entities in North Korea, Iran, and Belarus.

Cybersecurity

UBS, Pictet Suffer Data Leak Following Cyberattack on Vendor

By Thisanka Siripala | 20/06/2025

Both banks said client information was not affected by the cyberattack on Chain IQ, only employee-related data.

Emerging Prudential Risks

FSB Chair Klaas Knot Warns Against Complacency in Final Address

By Thisanka Siripala | 19/06/2025

Klaas Knot warned that easing banking regulations would be a “big mistake” that would increase the likelihood of financial crises.

PEPs & Sanctions

Unicat to Pay $3.88m for Violating Iran and Venezuela Sanctions

By Thisanka Siripala | 19/06/2025

The former CEO knowingly approved exports to Iran, using offshore affiliates in the Netherlands and China to mask the transactions.