Europe

Sanctions

Data is Key to Making Sanctions Work – RUSI Report

By Editors | 23/04/2024

Banks would be able to better identify red flags and stop illicit transactions if certain fields in SWIFT such as HS trade codes were made mandatory.

Enforcement

Germany’s APAS Finds EY Violated Professional Duties in Wirecard Audits

By Nithya Subramanian | 23/04/2024

APAS said EY had insufficient audit reporting, poor internal quality controls, and poor handling of red flags that pointed to irregularities.

Enforcement

ECB to Order UniCredit, Raiffeisen to Cut Russia Business – Reports

By Editors | 22/04/2024

Italy’s UniCredit and Austria’s Raiffeisen Bank International are expected to be ordered by the ECB to  pare back their Russia business.

Sanctions

US, EU Issue New Sanctions Over Settler Violence in West Bank

By Editors | 21/04/2024

OFAC’s sanctions target two entities that helped raise funds for two already-designated Israeli settlers. The EU sanctions target four individuals and two entities.

Crypto / Digital Assets

UK Banks Launch Digital Money Experimental Phase

By Editors | 19/04/2024

Barclays, Citi, HSBC, and Lloyds are among those that have signed up to experiment with the so-called ‘Regulated Liability Network’.

Sanctions

US, UK Unveil Initial Sanctions Response to Iran’s Airstrike

By Editors | 18/04/2024

The US sanctions target Iran’s drone production, steel industry and auto companies. The UK targeted those responsible for the weekend attack.

AML / KYC

UK Launches Global Initiative to Enhance Corporate Transparency

By Mark Johnston | 18/04/2024

The UK government has announced a global call to action for increased transparency in company ownership.

ESG / Sustainability

Bursa Malaysia Gains UK Boost for Sustainable Investments

By Nithya Subramanian | 17/04/2024

Bursa Malaysia will collaborate with the UK’s MOBILIST programme to enable greater investment in energy transition.

Fintech / Regtech

ISDA Extends Digital Regulatory Reporting Initiative

By Editors | 17/04/2024

The initiative is being extended to cover new derivatives reporting rules in the UK, Australia and Singapore.