Latest news (Page 64)

FATF Updates Its Listing of Jurisdictions Under Increased Monitoring

The Financial Action Task Force (FATF) identified 23 jurisdictions under increased monitoring in October 2021 which are actively working with

Use of Performance Bonds Increasing in Tanzania

A report by Clyde & Co Partner Tenda Msinjili and Associate Amreen Ayub suggests that use of performance bonds in

Co-Conspirator of Nigerian Airline CEO Indicted for Fraud Involving LCs Awaits Trial

European Banks Boost Support of “Top-Tier” Commodity Traders

Research conducted by Fitch Ratings suggests that European banks appear to be increasing lending to commodity trading firms facing extraordinary liquidity needs due to fierce commodity price volatility.

FinCEN Alerts of Possible Russian Sanctions Evasion Tries

US Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert on 7 March 2022, advising financial institutions (FIs) to be vigilant against efforts to evade sanctions.

SWIFT Disconnects Designated Russian, Belarusian Entities from Network

In compliance with applicable sanctions laws and conforming to legal instructions issued by the European Union, SWIFT disconnected selected banks from its financial messaging services in March 2022.

Russian Harmful Foreign Activities Sanctions

India Enforcement Directorate Attaches Assets in Bank Fraud Case

Four Charged for Running USD 16 Million Investment Scam in Arkansas

Back to the Basics: Honour, Negotiation, and Reimbursement of Letters of Credit

Honour, negotiation, and reimbursement – individually and collectively – are perhaps some of the least understood (or most misunderstood) terms in letter

Viele v. Williams [2021]