Category: Financial Crime

Regulatory Watch News

• 

  Treasury Disrupts Russia’s Sanctions Evasion Schemes

  US Department of the Treasury

  January 15, 2025

  Actions expose a secret payment channel for sensitive exports and target a Kyrgyzstani financial institution for supporting Russia’s military-industrial base

  WASHINGTON — Today, the U.S. Department of the Treasury is moving against Russian efforts to evade U.S. sanctions. This action targets a sanctions evasion scheme established between actors in Russia and the People’s Republic of China (PRC) to facilitate cross-border payments for sensitive goods. In addition, Treasury is designating a Kyrgyz Republic-based financial institution that coordinated with Russian officials and a U.S.-designated bank to implement a sanctions evasion scheme.

• 

  Financial sanctions update: Russia

  OFSI

  January 15, 2025

  1 entry amended on the consolidated list

  On 15 January 2025 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 Russia financial sanctions regime and remains subject to an asset freeze and trust services sanctions:

  • Gazprom Neft (Group ID: 16736)

• 

  Europol and Eurojust launch Phase 3 of SIRIUS project

  Europol

  January 15, 2025

  Building on six years of successful support to national law enforcement agencies (LEAs) and judicial authorities (JAs) in the field of electronic evidence, Europol and Eurojust launched the third phase of the SIRIUS project in January 2025.

  Phase 3 of the SIRIUS project will continue to assist LEAs, JAs, and service providers in navigating the increasingly complex legal framework. The project will continue to foster close cooperation between the public and private sectors, ensuring that criminal investigations are more effective and efficient in the digital age. The adoption of new EU-wide legislation, alongside key international agreements such as the Second Additional Protocol to the Budapest Convention, and the agreed draft text for a UN Convention on Cybercrime, are reshaping the legal and operational landscape surrounding electronic evidence.  In this challenging environment, SIRIUS has established itself as a centre of excellence in the field of cross-border access to electronic evidence in the EU. It offers a variety of services, such as guidelines, trainings and tools, to help with accessing data held by service providers.