International

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    Sanctions

    EU Joins Allies in Targeting DPRK-Russia Arms Trade With Sanctions

    By Editors | 03/06/2024

    The EU announced sanctions against six individuals and three entities for sanctions evasion and providing military support to Russia.

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    AML / KYC

    Tokenisation Will Improve Correspondent Banking Model: BIS Paper

    By Manesh Samtani | 01/06/2024

    The next generation of correspondent banking will make “previously closed corridors economically viable once again”.

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    Sanctions

    OFAC Sanctions Two African Firms Linked to Russia’s Wagner Group

    By Editors | 31/05/2024

    Two companies were designated for enabling “Wagner Group security operations” and “illicit mining endeavors” in the Central African Republic.

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    Capital / Liquidity

    EU Adopts Final Basel III Rules, Confirms Jan 2025 Roll-Out

    By Manesh Samtani | 31/05/2024

    Earlier this week, an ECB official said Basel III should be delayed in the EU if the US is too slow to adopt its own reform plan.

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    AML / KYC

    Swift Announces Industry Partnership to Combat Fraud With AI

    By Editors | 31/05/2024

    FIs will share data with privacy-preserving controls so that AI can be used to detect fraud patterns from a “much richer dataset”.

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    Sanctions

    China Announces Export Controls Targeting Aviation Parts

    By Editors | 31/05/2024

    From 1 July, a special licence from MOFCOM will be needed to export aviation and aerospace structural components and other items.

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    Crypto / Digital Assets

    ‘Gemini Earn’ Investors Secure Return of $2b in Crypto Assets

    By Editors | 30/05/2024

    Investors are receiving their digital assets “in kind”, meaning they benefit from crypto price increases since withdrawals were halted in January 2023.

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    Sanctions

    HSBC Completes Sale of Russian Unit to Expobank

    By Editors | 30/05/2024

    The deal received approval in February but it has taken until now for the sale to be successfully concluded.

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    Fintech / Regtech

    EU Commission Establishes Artificial Intelligence Office

    By Editors | 30/05/2024

    The new Office is preparing guidelines on AI system definitions and prohibitions, and preparing to draw up codes of practice for general-purpose AI models.

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    Securities / Derivatives

    Major FMIs Offer Blueprint for Digital Asset Ecosystem

    By Editors | 30/05/2024

    DTCC, Clearstream And Euroclear seek to promote the adoption and acceptance of tokenisation and digital asset securities.

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