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International
Sanctions
Russia Used US Banks to Send Billions to Turkey – Report
By Editors | 03/02/2025
$5bn was funnelled in 2022 using a nuclear power plant project as cover to evade sanctions. A further $2bn is still frozen at JPMorgan.
Sanctions
EU Circulates Draft Proposal for 16th Russia Sanctions Package
By Editors | 03/02/2025
The proposed package targets more regional banks, shadow-fleet vessels, and non-Russia companies that facilitate sanctions circumvention.
Sanctions
US Uses Sanctions Law to Impose Tariffs on Canada, Mexico, China
By Manesh Samtani | 03/02/2025
Canada and Mexico will impose retaliatory tariffs against the US. China also said it would take “countermeasures”.
Securities / Derivatives
FMSB Publishes Standard for Sharing Standard Settlement Instructions
By Manesh Samtani | 02/02/2025
The Standard aims to address operational risks caused by incorrect or missing SSIs, one of the biggest causes of settlement fails.
AML / KYC
UK Sentence Operators of Website that Enabled Account Takeover Fraud
By Thisanka Siripala | 02/02/2025
The operators provided tools including a “spoof call bot”, a ‘free text to speech’ service, and pre-scripted calls specifically designed to target customers.
Sanctions
ING, Goldman Advance Efforts to Sell Russian Subsidiaries
By Editors | 01/02/2025
ING expects to complete the sale of its operations in Russia in Q3. The sale of Goldman’s Russia unit received presidential approval.
Big Picture
Wholesale CBDCs More Likely to Gain Traction Than Retail CBDCs – Report
By Thisanka Siripala | 31/01/2025
Wholesale CBDCs are more likely to launch ahead of retail CBDCs on account of clearer efficiency gains and lower barriers to adoption.
Enforcement
US Suspects Sanctions Circumvention by Chinese AI Firm DeepSeek
By Manesh Samtani | 31/01/2025
US authorities investigating whether Deepseek bypassed US export controls and whether Singapore served as an intermediary for restricted Nvidia chip shipments
ESG / Sustainability
IAIS Sets Out Work Priorities in New 2025-2026 Roadmap
By Thisanka Siripala | 30/01/2025
Following the adoption of the Insurance Capital Standard at the end of 2024, the IAIS will shift focus to implementation and addressing risks in the industry.
Sanctions
Australia Issues New Guidance on Sanctions Compliance
By Editors | 30/01/2025
The ASO also released a Sanctions Compliance Toolkit and a Sanctions Risk Assessment Tool to facilitate compliance with Australian sanctions laws
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