Financial Action Task Force

AML / KYC

Sanctions Enforcement Not a ‘Credible Threat’: RUSI Roundtable

By Manesh Samtani | 12/06/2023

Roundtable participants said lessons should be learnt from the significant penalties that drove banks to observe the Iran sanctions regimes.

Crypto / Digital Assets

MiCA Text Published in EU Official Journal

By Karen Ng | 10/06/2023

The provisions on stablecoins will be enforced from 30 June 2024. The provisions for crypto asset service providers will be enforced starting 30 December 2024.

AML / KYC

Ukraine Calls on FATF to Add Russia to Blacklist

By Manesh Samtani | 09/06/2023

Ukraine says Russia has engaged in money laundering, sanctions evasion, terrorism financing, human trafficking, proliferation financing, and cyber-attacks.

Big Picture

Banks Increasingly Expected to Prevent Misconduct – Report

By Manesh Samtani | 07/06/2023

New report from Starling says outcomes-based regulation, culture initiatives, data science and technology can help enhance culture and conduct risk management in the banking industry.

AML / KYC

EU Officials Formally Sign MiCA Into Law

By Sanday Chongo Kabange | 02/06/2023

The MiCA legislation was signed into law on Wednesday by European Parliament president Roberta Metsola and Swedish minister Peter Kullgren.

Sanctions

OFAC Sanctions More Chinese Entities Over Fentanyl Epidemic

By Editors | 01/06/2023

The Chinese embassy in Mexico said the accusations are groundless and that China has been vigorously carrying out international anti-drug law enforcement cooperation

AML / KYC

VerifyVASP Becomes First LEI Validation Agent in Crypto Space

By Manesh Samtani | 26/05/2023

VerifyVASP will be able to help VASP clients obtain an LEI, which can be used in counterparty due diligence and travel rule compliance.

AML / KYC

Japan to Enforce Travel Rule for Crypto from 1 June

By Ranamita Chakraborty | 24/05/2023

The FSA had already issued rules for travel rule implementation, but a definitive date for enforcement had not been set until now.

AML / KYC

FATF President Calls on G7 to Act on Crypto Assets

By Editors | 19/05/2023

T Raja Kumar called on the G7 to “lead by example” in fully and effectively implementing the FATF Recommendations on crypto assets.