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NEWS: South Africa’s financial stability at risk over Russia sanctions breaches fallout and FATF ‘greylisting’ – warning

Premium May 29, 2023

WORRIES: South Africa's central bank has warned that systemic risk to the country's financial stability has remained elevated, notably due to the government's increasing debt levels and debt-servicing costs, as well as the impact of being put on a "grey list". Our file photo shows a bank teller look at South African rand note.

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NEWS: CIBC is Canada’s latest bank fined for failure to submit STRs, hit with C$1.3M penalty

NEWS: FinCEN awards law enforcement agencies which used BSA to launch criminal investigations

NEWS: Bizlato exchange was ‘open turnstile’ for dirty money as Russian co-founder admits processing $700M in illicit funds

South Africa’s central bank has warned of risks to the country’s financial stability, due to capital outflows and the possibility of sanctions following a U.S. diplomat’s accusation of supplying weapons to Russia to aid its campaign in Ukraine. These risks, along with the threat of a grid failure due to repeated power cuts and persistent…

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Premium

NEWS: CIBC is Canada’s latest bank fined for failure to submit STRs, hit with C$1.3M penalty

NEWS: FinCEN awards law enforcement agencies which used BSA to launch criminal investigations

NEWS: Bizlato exchange was ‘open turnstile’ for dirty money as Russian co-founder admits processing $700M in illicit funds

Regulatory Watch News

  • Queensland men arrested over 560kg WA cocaine bust

    Australia Federal Police

    The AFP has charged two men for their alleged involvement in the importation of about 560kg of cocaine seized by authorities in Western Australia’s Mid-West region in August, 2023. The Queensland men faced court in Mackay last week (30 November, 2023) and were both extradited to WA on charges of attempting to import a commercial quantity of cocaine.  

  • National Crime Agency calls on parents to help young people recognise the signs of money muling

    National Crime Agency

    The National Crime Agency is asking parents and carers to help young people avoid being persuaded or manipulated into laundering criminal cash. The NCA’s call follows three weeks of coordinated law enforcement action against money mules – a term given to individuals enlisted by criminals to move the proceeds of crime through their bank accounts in return for a cut of the sum.

  • Croatia: EPPO investigates former minister and ministry employee for abuse of office and authority

    European Public Prosecutor's Office

    (Luxembourg, 8 December 2023) – The European Public Prosecutor’s Office (EPPO) in Zagreb (Croatia) has officially initiated an investigation against two persons – a former minister and a former employee of Croatia’s Ministry of Regional Development and EU Funds (MRRFEU) – for abuse of office and authority. This follows a preliminary investigation conducted in cooperation with Croatia’s National Police Office for the Suppression of Corruption and Organised Crime (PNUSKOK).

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