Europe

AML / KYC

Weak Environmental Crimes Law a Risk to Investors

By ESG Investor | 19/12/2022

European Council’s position on the revised Environmental Crime Directive will damage portfolios as well as the environment, says WWF.

Fintech / Regtech

Singapore, EU to Expand Partnership to ‘Digital Realm’

By Editors | 18/12/2022

The partnership includes efforts to advance new and emerging areas such as 5G/6G, artificial intelligence, and digital identities.

Sanctions

New Russia, Iran Sanctions Imposed Over Drone Use in Ukraine

By Mark Johnston | 16/12/2022

The UK, EU and New Zealand has announced new sanctions against Iranian individuals and entities over the supply of drones to Russia.

AML / KYC

Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes

By Sanday Chongo Kabange | 15/12/2022

Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.

AML / KYC

GLEIF Confirms Utility of Embedding LEI in eSeals

By Editors | 14/12/2022

In a PoC, GLEIF demonstrated that embedding LEIs in eSeals allowed Japanese and European entities to transact digitally with greater trust.

Enforcement

UK FCA Fines Metro Bank for Incorrect RWA Disclosure

By Sanday Chongo Kabange | 14/12/2022

The bank published incorrect information concerning its risk-weighted assets and did not disclose the error to investors despite knowing it was wrong.

Capital / Liquidity

ECB to Raise UniCredit Capital Requirement Due to Russia Risks

By Editors | 14/12/2022

UniCredit still has some cross-border exposure to Russia and operates in some markets that are reliant on disrupted supplies of natural gas.

AML / KYC

Wirecard Trial Begins With Defendants Blaming Each Other

By Mark Johnston | 14/12/2022

Former CEO Markus Braun and his co-defendants face up to 15 years in jail, though a verdict is not expected until at least 2024.

AML / KYC

UK FCA Fines Santander for “Persistent Gaps” in AML Controls

By Editors | 13/12/2022

The FCA said Santander did not manage business banking accounts correctly and did not promptly deal with automated monitoring alerts.