Imposing Sanctions on the International Criminal Court
The International Criminal Court (ICC) was established to prosecute individuals responsible for crimes such as genocide, war crimes, and crimes against humanity. Its role has been a source of controversy, especially among powerful nations that see its jurisdiction as a breach of their sovereignty. In recent years, some countries, specifically the United States, have imposed sanctions on the ICC to limit its investigations into alleged crimes involving their nationals or allies.
Trump Agrees to Pause Tariffs on Canada and Mexico but Not on China
The global trade landscape has witnessed major turbulence in recent years, and former U.S. President Donald Trump’s policies have played a crucial role in shaping it. One of the most contentious issues has been the imposition of tariffs on trading partners. In a recent development, Trump agreed to halt tariffs on Canada and Mexico while maintaining them on China.
Spain’s Banca March fined €605k for ‘serious’ AML violations, lender to appeal
In early February 2025, Banca March, a prominent Spanish financial institution, was fined €605,424 by Spain’s Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses (Sepblac) for “very serious” violations of anti-money laundering (AML) regulations. The bank has announced its intention to appeal the decision, asserting that it has consistently adhered to AML laws.
NAMLCFTC receives 8,000 questionnaires from private sector
The National Anti-Money Laundering and Countering Financing of Terrorism Coordination Committee (NAMLCFTC) recently received 8,000 questionnaires from the private sector, marking a momentous milestone in UAE’s continuous efforts to combat financial crimes. This collaborative initiative highlights the critical role of public-private partnerships in enhancing the country’s financial security framework.
Five newly selected members of AMLA Executive Board from Germany, Lithuania, Denmark, Ireland and Spain
In February 2025, the European Parliament’s ECON and LIBE committees conducted interviews to select the five members of the Executive Board for the newly established European Anti-Money Laundering Authority (AMLA). The successful candidates hail from Germany, Lithuania, Denmark, Ireland, and Spain. The distinguished individuals and their professional backgrounds bring expertise to AMLA.
Treasury Sanctions Rwandan Minister and Senior Militant for Conflict in the Democratic Republic of the Congo
On February 20, 2025, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the imposition of sanctions on two key figures implicated in the ongoing conflict in the eastern Democratic Republic of the Congo (DRC): James Kabarebe, Rwanda’s Minister of State for Regional Integration, and Lawrence Kanyuka Kingston, a senior member and spokesperson for the March 23 Movement (M23) rebel group.
UAE: Dh1.15 million fine imposed on companies for violating money laundering, terrorism financing laws
In a major move to mitigate financial crimes, the United Arab Emirates (UAE) has imposed a fine of Dh1.15 million on a company for violating anti-money laundering (AML) and counter-terrorism financing (CTF) laws. This action highlights the UAE’s dedication and commitment to maintaining the integrity of its financial system and aligning with international standards.
FATF plenary February 2025: Key grey list changes, strategic initiatives, and updated guidance
The Financial Action Task Force (FATF) convened its first plenary of 2025 from February 19 to 21, marking the second session under the presidency of Elisa de Anda Madrazo. From over 200 jurisdictions, delegates discussed pivotal global priorities for curbing money laundering, terrorist financing, and proliferation financing. There were certain revisions in their Grey list as well.
