NEWS: Danske Bank facing legal action over €500 annual corporate fee to cover AML checks

Regulatory Watch News

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  FinCEN Issues Analysis of Fentanyl-Related Threat Patterns and Trends in Bank Secrecy Act Reports

  FinCEN

  April 9, 2025

  WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis focused on patterns and trends identified in Bank Secrecy Act (BSA) data linked to fentanyl-related illicit finance. Between January and December 2024, financial institutions filed 1,246 BSA reports that identified suspected fentanyl-related activity amounting to approximately $1.4 billion in suspicious transactions. The reported financial activity highlighted various aspects of the illicit fentanyl supply chain—including precursor chemical procurement, fentanyl trafficking, and fentanyl-linked money laundering—that have touchpoints across the U.S. financial sector.

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  UK Sanctions Update: Director Disqualification Sanctions

  UK Government

  April 9, 2025

   

  Today, 9 April, the UK Government has varied the designations of 2996 individuals and 818 entities across 28 UK autonomous and mixed sanctions regimes, meaning they are now subject to Director Disqualification Sanctions. 

  The effect of director disqualification sanctions

  Individuals who are subject to director disqualification sanctions are banned directly or indirectly from:

  • being a director of a UK company
  • being a director of a foreign company that has sufficient connection to the UK, even if it is not registered here. For example, if it carries out business or has assets here
  • taking part in or being concerned in the promotion, formation or management of a company

  unless a licence has been issued or there is an exception in place.

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  A number of jurisdictions, including the UK and US, are in the process of putting in place regulatory regimes for stablecoins.

  Bank of England

  April 9, 2025

  A number of jurisdictions, including the UK and US, are in the process of putting in place regulatory regimes for stablecoins. The FPC will continue to monitor closely developments in stablecoins and the risks to UK financial stability associated with those. The interconnectedness of unbacked cryptoasset markets with the real economy and financial sector is growing but remains relatively limited.