Trade-based financial crime transformed by invasion of Ukraine, pandemic impacts and digitalisation
Russia’s invasion of Ukraine, pandemic-related supply chain disruptions, digitalisation and online trading have transformed the nature and scope of trade-based financial crime according to panellists at a recent Regulation Asia webinar. The webinar aimed at banks in the Asia-Pacific region discussed the need for greater…
Belarus should be blacklisted by FATF and expelled from Egmont Group says head of Ukraine’s FIU
The head of the State Financial Monitoring Service of Ukraine (SFMSU) has called on the Financial Action Task Force (FATF) to recognise Belarus as a country proliferating weapons of mass destruction and place it on its so called black list of high-risk jurisdictions. Earlier this…
Blacklist and remove Russia from FATF calls from Ukraine
The chairman of the Ukrainian parliament says he has sent an appeal to the Financial Action Task Force (FATF) asking it to include Russia on its list of high-risk jurisdictions, often referred to as the global watchdog’s black list. Ruslan Stefanchuk, who is also the…
Russia’s role in FATF under review amidst growing money laundering, terrorist and proliferation financing risks
Russia’s invasion of Ukraine is a “gross violation” of standards committed to by members of the Financial Action Task Force (FATF) which has said it will “consider what future steps are necessary to uphold these core values.” A statement issued by the financial watchdog expresses its…
Russia’s military action in Ukraine triggering slew of new financial crime compliance, sanctions and security measures
A multilateral transatlantic task force to identify, hunt down, and freeze the assets of sanctioned Russian companies and oligarchs has been launched by a coalition of western allies – the European Commission, France, Germany, Italy, the UK, Canada, and the US – in response to…
