Russia and Belarus related Worldwide Sanctions

By |2022-05-09T11:44:53+03:00May 9th, 2022|

Russia and Belarus related Worldwide Sanctions The European Commission welcomes Member States' agreement today to impose additional targeted measures due to Russia’a invasion in Ukraine and Belarus's role in this aggression. The new measures, in particular, impose restrictive measures on 160 persons and alter Regulation (EC) 765/2006 on restrictive measures in light of [...]

Which countries are banned from SWIFT and why?

By |2022-05-09T12:00:33+03:00May 6th, 2022|

Which countries are banned from SWIFT and why? What does SWIFT refers to? The SWIFT system, which stands for the Society for Worldwide Interbank Financial Telecommunication, is a secure platform that allows financial institutions to share information about worldwide monetary operations such as money transfers. While SWIFT does not actually transport money, it [...]

Economic Sanctions Against Belarus

By |2022-06-06T15:06:40+03:00April 5th, 2022|

Economic Sanctions Against Belarus In reaction to Belarus' participation in the ongoing Ukrainian crisis, the EU dramatically strengthened its sanctions against Belarus on March 2, 2022. Belarus was already subject to major EU sanctions targeting its financial, dual-use, military, tobacco, petroleum, and potash industries, many of which were imposed in reaction to social [...]

Belarus Sanctions Regime in EU

By |2022-03-29T11:16:44+03:00March 29th, 2022|

Belarus Sanctions Regime in EU Since October 2020, the EU has gradually tightened sanctions against Belarus. The sanctions were enacted in reaction to Belarus's rigged presidential elections in August 2020. The sanctions regime on Belarus presently designates 183 persons and 26 companies, including major officials in the political leadership and administration, high-level members [...]

Russian Sanctions Regime in USA by OFAC

By |2022-03-29T10:55:43+03:00March 15th, 2022|

Russian Sanctions Regime in USA by OFAC The Ukraine/Russia sanctions program implemented by the Office of Foreign Assets Control (OFAC) began on March 6, 2014, when the President of the USA declared a national emergency in Executive Order (EO) 13660 against the threat posed by the actions and policies of certain individuals, who [...]

Russian Sanctions Regime in EU

By |2022-03-29T10:55:30+03:00March 12th, 2022|

Russian Sanctions Regime in EU What Measures has the EU Taken Against Russia in the last decade? Since 2014, the EU has progressively placed sanctions on Russia in reaction to the unlawful annexation of Crimea. In March 2015, EU leaders resolved to tie the current economic sanctions system to full implementation of the [...]

Economic Sanctions against Russia

By |2022-03-29T10:55:19+03:00March 10th, 2022|

Economic Sanctions against Russia US economic sanctions against Russia: On 21st February 2022 Presidency of the USA declared and issued Executive Order(EO) for banning any financial transactions in relation with the Luhansk and Donetsk Regions. Following days, USA issued economic and financial restrictions and prohibitions towards Russia due to military attacks on Ukraine: [...]

4 AML Trends to Follow Up in 2022

By |2022-01-31T15:52:20+03:00January 31st, 2022|

4 AML Trends to Follow Up in 2022 2021 was a challenging year for the financial industry in terms of the increasing threats of financial crimes and the expanding scope of the regulatory requirements. As a result, the focus of the regulatory bodies was on the Anti-Money Laundering (AML) compliance and how [...]

Opportunities and Challenges of New Technologies for AML/CFT

By |2021-11-29T23:43:00+03:00November 29th, 2021|

Opportunities and Challenges of New Technologies for AML/CFT The new and innovative methods, procedures and technologies are being developed constantly for the purpose of the successful, effective and up-to-date implementation of AML (Anti-Money Laundering) and CFT (Combatting the Financing of Terrorism) requirements. Recently, on November 26th, 2021 I was a panel speaker for [...]

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