CSSF Guidance on AML/CFT Obligations for Asset Due Diligence

On Friday, 13th December 2024, the CSSF published updated guidance providing clarity on AML/CFT obligations, particularly for securities and assets in regulated and non-regulated markets.

FCA's 2024 Financial Crime Guide Revisions: Key Updates and Industry Feedback

Last Friday, the Financial Conduct Authority (FCA) published a policy statement outlining key changes to its Financial Crime Guide.

EBA Guidelines on Sanctions Compliance: Focus on Governance, Technology, and Risk Management

EBA’s new guidelines set EU-wide standards for governance, technology, and risk management, enhancing sanctions compliance for financial institutions, PSPs, and CASPs.

OFAC's Sanctions Guidance for the Maritime Shipping Industry

OFAC’s guidance advises maritime compliance on AIS spoofing, document falsification, and hidden ownership, stressing due diligence and contract terms to manage sanctions risks.

Luxembourg Sanctions Best Practice Guidance Update: Key Takeaways

Luxembourg’s updated sanctions guide emphasizes EU/UN compliance, data vendor flexibility, IT standards, high-risk checks, and the 50% ownership rule for enforcement.

U.S. Expands Sanctions on Russian Military Support Networks Covering 17 Countries

U.S. sanctions target Russia’s defense supply, freezing assets of key suppliers from China, Turkey, and India to block crucial tech and financial aid essential to Russian weaponry production.

Polixis Partners with WealthArc

Polixis, a leading Swiss AML & KYC global data provider, is thrilled to announce its partnership with WealthArc, a global wealth management platform.

Navigating the UK Sanctions Regime: Key Insights and Best Practices from the SRA's Latest Guidance

The SRA's latest guidance on the UK Sanctions Regime emphasizes the importance of thorough due diligence, independent verification of client identities, and continuous monitoring to ensure compliance

Singapore Central Bank Issues Guidance to FIs on Customer Wealth Sources

The AMLD Circular 08-2024, issued by the Monetary Authority of Singapore on July 26, 2024, mandates financial institutions to rigorously establish and verify the sources of wealth of their customers.

Russian Businessman Dmitry Pumpyanskiy and His Wife Successfully Challenge Sanctions in EU Court

The EU imposed sanctions on Russian businessman Dmitry Pumpyanskiy for supporting the Russian government through his businesses, but recent appeals led to a partial annulment of the sanctions.

SECO Publishes Sanctions Interpretation Guide

On 13 June 2024, the Swiss State Secretariat for Economic Affairs (SECO) published a document aimed at assisting the interpretation of sanctions.

EU Anti-Money Laundering Package is Officially Published

The EU's Anti-Money Laundering Package was officially published on 19 June 2024. It comprises three key legal documents: the AML Regulation, the AML Directive, and the AMLA Regulation.