News & Updates

News and Updates are now published on the Africa Compliance Hub.

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Shell, Eni acquitted of corruption charges in Nigeria oil case

An Italian court has cleared two global oil giants, Eni and Shell, over allegations of corruption in Nigeria. The long-running case centred on the $1.3bn (£936m) purchase of an offshore oil block in 2011. Prosecutors had alleged that the majority of the money was used to bribe Nigerian politicians and

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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that establishes standards for anti-money laundering (AML) and know-your-customer (KYC) requirements, has published new draft guidance for decentralised platforms.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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