Europe

Enforcement

Danske Bank Settles French Money Laundering Probe

By Mark Johnston | 23/09/2024

Danske Bank will pay €6.33mn to settle a probe by French authorities into the bank’s now-shuttered Estonian operations.

Sanctions

EU Parliament Calls for Tougher Sanctions Action on Russia

By Editors | 21/09/2024

EU Parliament adopted a resolution calling for tighter sanctions on Russian fossil fuels and additional measures targeting circumvention.

Sanctions

EU Mulls Expansion of Export Controls to Subsidiaries of EU Firms

By Editors | 21/09/2024

The EU is reportedly considering expanding export restrictions to subsidiaries of EU companies, and increasing focus on third country FIs.

AML / KYC

German Authorities Shut Down 47 Cryptocurrency Exchanges

By Nithya Subramanian | 20/09/2024

The crypto exchanges did not carry out identity and background checks on customers and allowed them to conduct financial transactions anonymously.

Sanctions

UK Imposes Trade Sanctions Targeting Iran Defence Industry

By Editors | 20/09/2024

The new measures are part of the UK’s response to reports that Iran has delivered ballistic missiles to Russia.

Sanctions

Armenia Accused of Facilitating Russian Sanctions Evasion

By Editors | 20/09/2024

NGOs from Azerbaijan claim that several EU countries including Greece and Cyprus are continuing to conduct trade with Russia through Armenia.

Crypto / Digital Assets

UK Banks Complete Experimental Phase of Digital Money Project

By Mark Johnston | 20/09/2024

UK Finance and its member banks have successfully completed the experimental phase of a tokenisation and CBDC platform.

Capital / Liquidity

French and German Banks Calling on RBI to Adjust Trading Rules

By Manesh Samtani | 19/09/2024

The existing rules would not be able to accommodate a third-party trading model proposed as a temporary solution to address ESMA’s derecognition of Indian CCPs.

AML / KYC

FINMA Confiscates $15m from Private Bank Mirabaud for AML Failures

By Nithya Subramanian | 19/09/2024

FINMA barred the bank from accepting high-risk clients and ordered it to overhaul its risk management, internal controls, and corporate governance.