?? KYC/AML/CFT news ?? week 8/2024
Here is the most relevant KYC/AML/CTF information for the week of February 19-23, 2024.
?? Latest developments from authorities
?? 1/ ?? EU adopted 13th package of individual and economic sanctions against Russia ??. 194 designations (106 individuals & 88 entities); trade restrictions: dual-use & advanced technology, aluminium capacitors, electrical transformers, static converters and inductors; "No Russia" clauses in export contracts.
?? 2/ ? EU has updated the list of non-cooperative jurisdictions for tax purposes?? . Removed from black list: Bahamas, Belize, Seychelles and Turks and Caicos Islands.
?? 3/ ? The FATF gray list has been updated ?? . Added: Kenya , Namibia ; Removed: Barbados, Gibraltar, Uganda, United Arab Emirates .
?? 4/ European Commission updated FAQs related to the Russia sanctions regime?? (Tanker sales & “No re-export to Russia” clause ).
?? 5/ Frankfurt has been chosen by EU Parliament and Council as the seat of AMLA??
?? 6/ EUROPOL - LockBit, the world’s most harmful ransomware, has been annihilated??
?? 7/EUROPOL - large-scale operation against a Russian-Eurasian criminal network and a Malta-based financial institution involved in money laundering?? .
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?? Media roundup
??8/ NatWest Group Plc is clawing back bonuses from ten former staff to address the “collective failure” that led to the firm’s conviction for failing to prevent money laundering?? in 2021.
??9/ Royal Bank of Scotland International has been fined ￡1m by the Isle of Man’s financial regulator for breaching its anti-money laundering and countering the financing of terrorism code?? .
??10/ BaFin, has “threatened to impose penalty payments” on Deutsche Bank if it doesn’t fix what it refers to as “defects” concerning its money laundering controls?? .
??11/Britain's Financial Conduct Authority (FCA) has opened an investigation into Lloyds Banking Group's anti-money laundering controls?? .
??12/ The Central Bank of Russia has revoked the license of Qiwi Bank, the largest payment services provider in Russia (a Cyprus-based company listed on NASDAQ with 29 million clients in 2022), for systematic violations of AML and CTF legislation??.