Notice to Exporters 2019/15 on 12 November advised that between May and October 2019, HMRC issued compound penalties between £5,000 and £90,000 to 9 UK exporters, related to unlicensed exports of dual-use goods, military goods and related activity.
On 12 November, KYC 360 reported that 7 people have been detained on suspicion of embezzling $49 million that was part of a loan the National Bank of Ukraine (NBU) gave to stabilise a struggling bank, VAB Bank, owned by one of the country’s biggest agricultural producers. One of the detainees was Oleksandr Pysaruk, the current CEO of Austrian-owned Raiffeisen Bank Aval, and who was the first deputy chairman of the NBU.
A release on Mondo Visione on 11 November reported that the Committee proposes to amend its 2017 guidelines on the management of AML/CFT risks. It intends to provide detailed and practical guidelines on the interaction and cooperation between prudential and AML/CFT supervision – to enhance the effectiveness of supervision of banks’ risk management in line with its and FATF standards. Comments are required by 6 February. The Committee involves and supports central banks in their pursuit of monetary and financial stability, and seeks to foster international co-operation in those areas and to act as a bank for central banks.
The Basel Committee on Banking Supervision says better information exchange would improve supervision of AML
An article from Out-Law on 12 November reported on the content and recommendations of the Basel Committee on Banking Supervision report proposing new guidelines to improve the supervision of the ways banks tackle AML/CFT.