Ex-banking CEO denied bail in multi-million dollar laundering probe; judge claims he may be a flight risk

Regulatory Watch News

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  Financial sanctions update: Belarus

  OFSI

  December 19, 2024

  On 19th December 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entry has been amended under the Belarus financial sanctions regime and is still subject to an asset freeze:

  • Mikail Safarbekovich Gutseriev (Group ID: 14131)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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  Oman’s measures to combat money laundering and terrorist financing

  FATF

  December 19, 2024

  Paris, 19 December 2024 - Oman has significantly improved its legal, operational and supervisory framework on anti-money laundering and countering terrorist financing (AML/CFT) in recent years through robust technical compliance with the FATF Recommendations. Oman is achieving positive results in the use of financial intelligence, international cooperation, combating terrorist financing and implementing financial sanctions for proliferation financing. However, in some areas, more time and effort are needed for measures and reforms introduced to impact the effectiveness of Oman's AML/CFT system.

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  Spain: EPPO dismantles organised crime group that evaded €3.3 million in antidumping duties

  European Public Prosecutor's Office

  December 19, 2024

  (Luxembourg, 19 December 2024) – In an investigation led by the European Public Prosecutor’s Office in Madrid (Spain), the Spanish Guardia Civil and the Tax Office, with the support of Europol, have dismantled an organised crime network operating in Spain since 2020. The network, controlled by nine individuals and involving a sophisticated structure of companies, located in different countries, is thought to have evaded over €3.3 million in antidumping duties.