News & Updates

FATF’s New Guidance Takes Aim At DeFi

The Financial Action Task Force (FATF), the inter-governmental watchdog that establishes standards for anti-money laundering (AML) and know-your-customer (KYC) requirements, has published new draft guidance for decentralised platforms. FATF made headlines two years ago when it proposed – and then finalised – guidance urging nations to implement KYC requirements for all crypto

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EU to Propose Targeted Eritrea Sanctions over Ethiopia Conflict

The European Union plans to impose targeted sanctions on several individuals in Eritrea for their alleged role in human rights abuses and atrocities in northern Ethiopia. Even though the details of the sanction regime are not public yet, there are indications that the European Commission shall soon present a proposal

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EBA Revises Guidelines on Money Laundering, Terror Financing Risk Factors

The European Banking Authority (EBA) recently published revised guidelines for money-laundering and terrorist-financing risk factors, including guidance on related risk assessments and customer due diligence (CDD) for beneficial owners. The Guidelines are addressed to financial institutions and supervisory authorities and outline the factors that firms should consider when assessing the

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OFAC Reaches £216k Settlement With UniControl

OFAC has announced that UniControl, an Ohio-based manufacturer, has agreed to pay $216,464 to settle its civil liability for violations of the Iran Transactions and Sanctions Regulations (ITSR). UniControl, Inc., an Ohio-based entity that manufactures process controls, airflow pressure switches, boiler controls, and other instrumentation, has agreed to pay $216,464

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