NEWS: FATF considers major overhaul to ease regulatory burden on finance firms

Regulatory Watch News

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  Treasury Takes Aim at Third-Country Sanctions Evaders and Russian Producers Supporting Russia’s Military Industrial Base

  US Department of the Treasury

  October 30, 2024

   

  Sanctions target individuals and entities in 17 jurisdictions; Deputy Secretary calls on countries to take similar action against enablers of Russia’s military-industrial base

  WASHINGTON — Today, the U.S. Department of the Treasury sanctioned 275 individuals and entities involved in supplying Russia with advanced technology and equipment that it desperately needs to support its war machine. Today’s action targets both individual actors and sprawling sanctions evasion networks across 17 jurisdictions, including India, the People’s Republic of China (PRC), Switzerland, Thailand, and Türkiye. In addition to disrupting global evasion networks, this action also targets domestic Russian importers and producers of key inputs and other materiel for Russia’s military-industrial base.

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  Bogus Cryptocurrency Platform- Paragonix Earn

  Isle of Man Financial Services Authority

  October 30, 2024

  The Authority has become aware of the websites listed above that are promoting the cryptocurrency trading scam Paragonix Earn. The websites purport to represent the business Paragonix Earn and are promoting its use on the Isle of Man. The address quoted on the website is a PO Box address in Douglas, Isle of Man, as far as we can ascertain they are not known to anyone genuinely associated to that address. The Authority wishes to draw attention to the following observations: The Authority has failed to establish any association between the websites and any genuine Isle of Man companies or businesses. As far as we can ascertain the websites nor those behind them are not known to anyone genuinely associated with the aforementioned Isle of Man PO Box address.

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  Italy: Investigation into €1 million embezzlement fraud involving social funds – EPPO seizes two properties

  European Public Prosecutor's Office

  October 30, 2024

  (Luxembourg, 30 October 2024) – At the request of the European Public Prosecutor’s Office (EPPO) in Milan (Italy), the Italian Financial Police (Guardia di Finanza) has seized two properties in an investigation into the embezzlement of €1 million in EU and national funds, involving a vocational training institute.