NEWS: AI adoption rising quickly in Swiss finance, says FINMA

Regulatory Watch News

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  SFC’s senior executives visit Abu Dhabi and Dubai to promote collaboration on virtual assets

  Securities and Futures Commission

  May 6, 2025

   

  The Securities and Futures Commission’s (SFC) Executive Director of Intermediaries, Dr Eric Yip, and Director of Intermediaries & Head of Fintech unit, Ms Elizabeth Wong, met with regulatory counterparts and the Web 3 industry in Abu Dhabi and Dubai of the United Arab Emirates last week to exchange virtual assets-related insights and experiences. Dr Yip held in-depth discussions with senior executives of the Securities and Commodities Authority of the United Arab Emirates, the Financial Services Regulatory Authority of the Abu Dhabi Global Market, the Dubai Financial Services Authority, and the Virtual Assets Regulatory Authority of Dubai. The discussions centred on evolving approaches to regulation of virtual assets and experience in supervising firms operating in the sector, in line with the SFC’s objective of promoting fit-for-purpose policymaking under the ASPIRe roadmap

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  Treasury Sanctions Burma Warlord and Militia Tied to Cyber Scam Operations

  OFAC

  May 5, 2025

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Karen National Army (KNA), a militia group in Burma, as a transnational criminal organization, along with the group’s leader Saw Chit Thu, and his two sons, Saw Htoo Eh Moo and Saw Chit Chit, for their role in facilitating cyber scams that harm U.S. citizens, human trafficking, and cross-border smuggling.  The KNA-controlled region, located on the Thai-Burmese border, is home to multiple cyber scam syndicates, and the KNA has benefitted from its connection to Burma’s military in its criminal operations.  Although statistics vary, American victims of cyber scams like the ones emanating from Burma have collectively lost billions of dollars over the last three years.

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  European Prosecutors for Poland and Sweden take oath before the Court of Justice of the EU

  European Public Prosecutor's Office

  May 5, 2025

  (Luxembourg, 5 May 2025) – Today, at the Court of Justice of the European Union in Luxembourg, the European Prosecutors for Poland and Sweden gave the solemn undertaking to comply with the obligations arising from their duties. They were recently appointed to the European Public Prosecutor’s Office (EPPO) by the Council of the EU, following the decision of Poland and Sweden to join the EPPO. They are appointed for a non-renewable term of six years.