LATEST: FinCEN warns of ransomware surge, victims paid out $2.1bn

Regulatory Watch News

• 

  The Commission on Narcotic Drugs (CND) Vienna, Austria, 9 – 13 March 2026

  UNODC

  March 10, 2026

  The Commission on Narcotic Drugs (CND) was established by Economic and Social Council (ECOSOC) resolution 9(I) in 1946, to assist the ECOSOC in supervising the application of the international drug control treaties. In 1991, the General Assembly (GA) expanded the mandate of the CND to function as the governing body of UNODC (A/RES/46/104). The CND's agenda has two distinct segments: a normative segment for discharging treaty-based and normative functions; and an operational segment for exercising the role as the governing body of UNODC.

• 

  Publication of UK Government’s strategic approach to sanctions enforcement

  UK Government

  March 10, 2026

  Today, we have published an overview of the UK Government’s approach to enforcing breaches of UK sanctions. This follows the cross-government review of sanctions implementation and enforcement, which concluded that, ‘a cross-government strategy on enforcement will assist industry to understand the range of non-compliance and possible enforcement consequences’. The document sets out key enforcement principles, emphasises the importance of strong compliance and outlines the potential consequences of non-compliance. It also summarises the roles of key government departments, regulators and enforcement bodies

• 

  Proposed update to Travel Rule Code

  Isle of Man Financial Services Authority

  March 10, 2026

  Amendments are being proposed to the Island’s anti-money laundering and countering the financing of terrorism (“AML/CFT”) framework in relation to Virtual Asset Service Providers (“VASPS”). The Isle of Man Financial Services Authority (“the Authority”) is working in conjunction with the Department of Home Affairs to update the existing Travel Rule (Transfer of Virtual Assets) Code 2024 (“the Travel Rule Code 2024”). The amendment to the Travel Rule Code 2024 will be made through the Travel Rule (Transfer of Virtual Assets) (Amendment) Code 2026, which is being laid before the March sitting of Tynwald.