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The EU Sanctions Best Practice updated – main changes

By ⋅ April 16, 2015 ⋅ Post a comment

On 24th March 2015, the Foreign Relations Counsellors Working Party , EU body dedicated to the development of best practices among Member States in implementation of restrictive measures, published an updated version of the document EU Best Practices for the effective implementation of restrictive measures, which amends the previous version published in 2008. The update document contains non exhaustive […]

What has Iran done recently to circumvent international financial sanctions?

By ⋅ February 25, 2015 ⋅ Post a comment

Intelligence officials and diplomatic sources say that Iran has smuggled at least $1 billion in cash into the country to blunt the effects of Western sanctions. Multiple sources told Reuters on Tuesday that Iran’s efforts to obtain smuggled bank notes for international transactions is much bigger than previously thought. How has it been done so […]

Corruption, money laundering and terrorism: is there any relationship?

By ⋅ February 6, 2015 ⋅ Post a comment

On 4th Febraury 2015, Transparency International(TI) published an interesting article which describes how corruption and terrorism are well interconnected. This is certainly not a news for insiders who have been monitoring such relation, but as TI stresses “such a link has never been clearer”. In particular, in countries where corruption is rife, problems with security […]

What’s new on the Corruption Perception Index 2014?

By ⋅ December 3, 2014 ⋅ Post a comment

Last night Transparency International released the Corruption Perceptions Index 2014. At the first analysis of the data, there are not many surprises. However, it is worth noting that: Turkey and China’s rating on perceived corruption has fallen steeply (respectively from 50 to 45 points, and from 40 to 36 points); More than two thirds of […]

FCA update: how is money laundering and sanctions risk managed by small banks?

By ⋅ November 17, 2014 ⋅ Post a comment

On 14th November 2014, the Financial Conduct Authority  (FCA – formerly known as Financial Conduct Authority) published a new report on how small banks manage money laundering and sanctions risk. The report follows up the previous review on Bank’s management of high money-laundering risk situations (AML review) carried out by the Fincial Services Authority (FSA) in 2011. […]

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