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Economic Sanctions Financial Services Industry Anti-Money Laundering

A&O Shearman

UK OFSI updates financial sanctions guidance with new licensing ground

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The UK Office of Financial Sanctions Implementation (OFSI) has updated its general guidance on financial sanctions, introducing a new licensing ground under Section 6.6, permitting the return of funds from designated Money...more

Friling Law

Legal Guidance for Financial Integrity and Whistleblower Protection

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Over the past few years, whistleblowers have become a driving force in uncovering financial misconduct in the U.S. Individuals may report illicit financial activity, including money laundering, sanctions evasion, fraud, and...more

K2 Integrity

AI-Driven Risk Assessment: Enhancing Financial Crime Compliance And Internal Audit

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In an era of increasingly sophisticated financial crimes and evolving regulatory, compliance, and internal audit needs, financial institutions must continuously refine their risk assessment strategies. Traditional methods,...more

Mayer Brown

UK Weekly Sanctions Update - Week of March 31, 2025

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In this weekly update, we summarise the most notable updates in the UK sanctions world....more

Jones Day

Mitigating Risk From the Designation of Cartels as FTOs and SDGTs

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The Situation: After President Trump issued an Executive Order ("EO") that creates a process to designate international cartels and other organizations as "Foreign Terrorist Organizations" ("FTOs") or "Specially Designated...more

Guidepost Solutions LLC

Mexican Cartels as Foreign Terrorist Organizations: A New Era of Risk for Global Businesses

On January 20, 2025, President Trump issued an executive order titled “Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists.” This directive instructs the...more

Conyers

Regulatory & Risk Advisory Outlook 2025: Cayman Islands

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2024 was once again an active year for the Cayman Islands regulatory industry. In this edition of our Regulatory & Risk Advisory Outlook, our team has summarised the key changes and news during 2024 and taken a look at the...more

A&O Shearman

Eurozone banks: get ready for the new IPR obligations!

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The new Regulation (EU) 2024/886 on instant credit transfers in euros (IPR), amending the so-called SEPA Regulation, is here, and it’s time to gear up! Effective from April 8, 2024, the first set of obligations kicks in on...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Updates Sanctions Best Practices, Clarifying Ownership Threshold for Asset Freeze Restrictions

The Council of the European Union (Council) has updated its EU Best Practices for the Effective Implementation of Restrictive Measures. Published on 3 July 2024, the new version clarifies the threshold for the ownership test...more

White & Case LLP

The Shadow Financial System

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The concept of the shadow financial system rose to international prominence in the aftermath of the 9/11 terrorist attacks. In an interview with a Pakistani newspaper a month later, Osama bin Laden stated that Al Qaeda were...more

Ballard Spahr LLP

The American Front in Russia’s War on Ukraine: DOJ’s “Task Force KleptoCapture” Continues Focus on Operations of Sanctioned...

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We previously have blogged on actions taken by the DOJ’s “Task Force KleptoCapture,” an interagency law enforcement task force with a mandate to target sanctioned Russian and pro-Russian oligarchs. While explicitly launched...more

American Conference Institute (ACI)

[Event] 8th Forum on FinTech & Emerging Payment Systems - April 9th - 10th, New York, NY

ACI’s 8th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems will provide in-depth guidance on the latest regulatory developments at the Federal and State Level that you need to be aware of....more

American Conference Institute (ACI)

[Event] 24th National Forum on Prepaid Accounts Compliance - April 8th, New York, NY

The 24th National Forum on Prepaid Accounts Compliance will address the latest developments impacting the prepaid industry and provide answers to the most pressing questions and challenges being faced by practitioners in this...more

A&O Shearman

Impact of sanctions on payment obligations

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One of the many legal consequences of Russia’s full-scale invasion of Ukraine in February last year was that businesses were faced with having to analyse the exact remit of sanctions laws and the extent to which they caught...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

Goodwin

The FCA’s 2023/24 Priorities for UK Payments: Firms and Investors, Take Note

Goodwin on

On March 16, 2003, the UK Financial Conduct Authority (FCA) published its letter Portfolio Letter: FCA priorities for payments firms to the CEOs of UK Payment Institutions (PIs), Electronic Money Institutions (EMIs), and...more

Orrick, Herrington & Sutcliffe LLP

Treasury official warns Turkish companies on engaging with Russian entities

On February 3, Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson, met with the Banks Association of Turkey to discuss international sanctions actions against Russia for its war against...more

BakerHostetler

FINRA Signals Expanded Enforcement Priorities in Annual Report

BakerHostetler on

The 2023 Report on FINRA’s Examination and Risk Monitoring Program was published on Jan. 10, 2023. In a statement accompanying the Report, Greg Ruppert, executive vice president of FINRA’s Member Supervision organization,...more

BCLP

Banking Bites - November 2022

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Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

BCLP

Banking Bites - October 2022

BCLP on

Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

A&O Shearman

UK Money Laundering Regulation Changes Announced for September 2022

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Following its 2021 consultation on targeted amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLRs), the U.K. government has published a...more

Morgan Lewis

Update: Russia Further Tightens Currency Control Regulations and Directs Banks to Scrutinize Payments Made Abroad

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As another measure to support Russia’s financial market, Presidential Decree No. 126 imposes further limitations on cross-border monetary transfers for both Russian and non-Russian residents. However, Decree No. 126 also...more

Morgan Lewis - Tech & Sourcing

Sanctions Apply to Cryptoasset Sector Confirm UK Financial Regulatory

On March 11, 2022, the UK Financial Conduct Authority (FCA), the Bank of England, and the Office of Financial Sanctions Implementation (OFSI) released a joint statement reiterating that all UK financial services firms,...more

Cadwalader, Wickersham & Taft LLP

Statement from UK Financial Regulatory Authorities on Sanctions and the Cryptoasset Sector

On March 11, 2022, the UK Financial Conduct Authority (“FCA”), the Office of Financial Sanctions Implementation (part of HM Treasury) and the Bank of England published a joint statement (the “Statement”) on sanctions and the...more

American Conference Institute (ACI)

[Event] 15th Flagship Conference on U.S. Economic Sanctions Enforcement and Compliance - December 7th - 8th, Washington, DC

LIVE and IN-PERSON ACI’s Flagship Conference in December! ACI’s 15th Flagship Conference on U.S. Economic Sanctions Enforcement and Compliance is North America’s largest and most comprehensive conference on economic...more

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