One Common Layover Stop for Wildlife Traffickers: Bangkok
Thailand’s main international airport has become a reluctant hub in a sprawling illegal trade funneling wild animals to India, where social media “petfluencers” and exotic cafes are fueling a boom in demand for rare creatures.
Trump Clears Way for Secondary Sanctions on Banks Dealing with Cuba
President Donald Trump on Friday signed an executive order authorizing penalties against foreign banks and other companies anywhere in the world that do business with the Cuban government.
U.S. Banks Left in the Dark on New Citizenship-Verification Expectations
U.S. banks have heard little from the Trump administration about the scope of an expected executive order that would require them to collect citizenship or immigration-status data on their customers, leaving the industry warning of multibillion-dollar costs and the prospect of millions of Americans being shut out of the banking system.
Austria Falls Short on Dirty-Money Prosecutions, DNFPB Supervision: FATF
The Financial Action Task Force (FATF) placed Austria in enhanced follow-up after finding the country’s framework for investigating and prosecuting money laundering remains weak more than a decade after similar concerns were first raised.
Julius Baer Ordered to Rehire Staffer Who ID’d Potential Sanctions Violations
A German labor court has ruled that Julius Baer Group’s Frankfurt arm wrongly dismissed a manager who had raised internal concerns about alleged sanctions violations linked to the onboarding of clients from Iran and Russia.
OFAC Targets Iran ‘Rahbar’ Networks, Warns on China Refinery Risks
OFAC designated 35 entities and individuals it said help run Iran’s shadow-banking system, focusing on private companies known as “rahbars” that move money for sanctioned Iranian banks through foreign shell companies and front-company accounts.
Swiss Court Dismisses Gulnara Karimova’s Graft Case
A Swiss federal court abruptly dismissed money laundering and bribery charges against the imprisoned daughter of a former Uzbek president on Tuesday after Uzbek authorities confirmed she would not be released to attend the proceedings before the statute of limitations runs out.
Sanctions and War are Fueling China’s Efforts to Bypass SWIFT
China’s two-decade effort to build an international financial system anchored by its currency, the renminbi, is gaining traction as wars and Western sanctions push U.S. adversaries to seek alternatives to the dollar.
Cannabis Reclassification Will Improve Sector’s Cash Flow, Not Banking Woes
The Trump administration’s decision to reclassify marijuana as a less dangerous drug marks a milestone for the cannabis industry, but experts and executives say it falls well short of ending the sector’s longstanding exile from the mainstream financial system.
Explainer: What’s in the EU’s 20th Russia Sanctions Package?
The European Union on Thursday formally adopted its much delayed 20th package of restrictive measures against Russia and the bloc’s biggest package of designations in two years. Here’s what’s in it.