Regulatory Watch News

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  Belarus Designations Removals; Issuance of Belarus General License; Rescission of Belarus Directive 1

  OFAC

  March 26, 2026

  The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Belarus General License 14, "Authorizing Transactions Involving Belarussian Bank of Development and Reconstruction Belinvestbank Joint Stock Company and Certain Additional Entities." OFAC has also determined, in consultation with the U.S. Department of State, that circumstances no longer warrant the prohibitions imposed on the Ministry of Finance of the Republic of Belarus and the Development Bank of the Republic of Belarus under Directive 1 pursuant to sections 1(a)(ii), 1(b), and 8 of E.O. 14038. Accordingly, OFAC has rescinded Directive 1 under E.O. 14038.

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  PSR to press ahead on card fees, fraud and payments reform in 2026/27

  Payment Systems Regulator

  March 26, 2026

  The Payment Systems Regulator has today set out its work programme for 2026/27 highlighting its focus on tackling high card fees, maintaining world-leading protections against Authorised Push Payment (APP) fraud and supporting innovation and competition across UK payments. This year’s work plan sets out how the regulator will build on recent reforms, take forward further action where markets aren’t working well for people and businesses and support the delivery of the National Payments Vision alongside the Bank of England, FCA and HM Treasury.

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  Romania: Eight indicted for €9 million fraud in procurement of medical equipment during pandemic

  European Public Prosecutor's Office

  March 26, 2026

  (Luxembourg, 26 March 2026) – The European Public Prosecutor’s Office (EPPO) in Bucharest (Romania) has indicted eight defendants (six individuals and two companies) this week before the Bucharest tribunal for a €9 million fraud involving EU funds for the purchase of protective medical equipment during the Covid-19 pandemic.