Europe

AML / KYC

New EU-Wide AML Authority Expected to Oversee Crypto Firms

By Mark Johnston | 01/03/2022

A group of EU member states led by Germany is seeking to make the inclusion of cryptocurrency firms under the AMLA’s remit more explicit.

AML / KYC

UK Fast-Tracks Property Ownership Transparency Bill

By Manesh Samtani | 01/03/2022

The Economic Crime (Transparency and Enforcement) Bill first promised in 2016 has been introduced in Parliament and will be fast-tracked through the legislature.

ESG / Sustainability

UK, Singapore Bolster Cooperation on Data Flows, Financial Services

By Editors | 01/03/2022

The UKSDEA promotes free flows of data between the UK and Singapore including in financial services. Both countries will work towards recognising each other’s digital identity systems.

AML / KYC

Western Leaders Pledge to Remove Russian Banks from SWIFT

By Manesh Samtani | 28/02/2022

Western leaders have committed to removing “selected Russian banks” from the SWIFT financial messaging system to harm their ability to operate globally.

AML / KYC

EC Adopts Proposal on Corporate Sustainability Due Diligence

By Manesh Samtani | 28/02/2022

The proposal requires companies, including certain non-EU companies, to address negative human rights and environmental impacts in their supply chains.

AML / KYC

Russia Facing Comprehensive Sanctions Over Ukraine Invasion

By Manesh Samtani | 25/02/2022

The US is targeting all ten of Russia’s largest financial institutions. Russian access to most major markets has been restricted.

Crypto / Digital Assets

Russia Considers Framework for Regulating Cryptocurrencies

By Sanday Chongo Kabange | 24/02/2022

The draft proposes requirements for VASPs relating to corporate governance, tax reporting, data storage, internal controls, risk management, client identification/KYC and segregation of assets.

AML / KYC

US, EU, UK, Japan Announce Sanctions Against Russia

By Manesh Samtani | 22/02/2022

Sanctions are being imposed against Russian state-owned banks, officials, oligarchs, and new debt issued by the central bank, sovereign wealth fund or government.

AML / KYC

Suisse Secrets: Data Leak Reveals Criminals Clients at Swiss Bank

By Manesh Samtani | 21/02/2022

The data unearthed evidence that Credit Suisse accounts were used by clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.