Tagged: sanctions

July 7, 2022 @ 1:09 pm By Collette Allen  |  

The entire world is on edge with the events unfolding in Ukraine. As NATO responds and sanctions have been imposed on Russia, what does this mean for businesses? As part of an overall Anti-money laundering and fraud protection strategy, screenings performed for new clients prevent… Read More

April 19, 2022 @ 8:30 am By Omar Faridi  |  

Seon, a startup that’s focused on assisting Fintechs like Revolut with addressing online fraud, has secured $94 million in capital, in order to implement various tools for preventing sanctions evasion by Russia. The London-headquartered firm secured the funding via an investment round that was led… Read More

April 6, 2022 @ 11:57 am By JD Alois  |  

Yesterday, the U.S. Department of the Treasury sanctioned dark web marketplace Hydra Market, labeling it a pernicious site for malicious cybercrime services, dangerous drugs, ransomware, and other illicit activity. Hydra Market is said to be based in Russia. Also sanctioned, Garantex is a crypto exchange… Read More

April 3, 2022 @ 10:32 am By Omar Faridi  |  

European lender Mintos notes that previously, they had prepared an overview of the “broader” effects of the war in Ukraine, sanctions on Russia, and Russian “responding policies on the financial markets.” As noted in a blog post, Mintos is now sharing “an insight into how… Read More

March 18, 2022 @ 4:02 pm By JD Alois  |  

Yesterday, Senator Elizabeth Warren, along with several other Democrat Senators, introduced legislation that is designed to crack down on Russian “Elites” or oligarchs, who may utilize crypto to evade the economic sanctions that have been applied by many countries around the world. The Digital Asset… Read More

March 14, 2022 @ 6:22 pm By JD Alois  |  

Chainalysis, a leading blockchain/crypto monitoring and data platform used by both private and public entities, shared last week that they are building tools that “make it easier for any organization to integrate sanctions screening for cryptocurrencies into their existing operation.” As has been previously reported,… Read More

March 14, 2022 @ 5:57 pm By JD Alois  |  

The Bank of Russia has taken the extraordinary measure of halting trading on the Moscow Stock Exchange now for a second week. In a public statement, the Bank said there would be no trading from 14 to 18 March 2022 on the Moscow Exchange in… Read More

March 10, 2022 @ 3:45 pm By JD Alois  |  

Following the news that Goldman Sachs (NYSE:GS) was exiting operations in Russia, JPMorgan (NYSE:JPM) is reportedly doing the same. The move follows heavy economic sanctions targeting Russia by many countries around the world following Russia’s draconian invasion of Ukraine. JPMorgan Chase is the largest bank… Read More

March 8, 2022 @ 4:09 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) has published a blog post on how it uses technology to adhere to sanctions compliance. The post follows the many economic sanctions that have been applied to Russia, and Belarus, following the unprovoked invasion of Ukraine. Coinbase notes that it has blocked over… Read More

March 8, 2022 @ 10:45 am By JD Alois  |  

Yesterday, FinCEN, the enforcement branch of the US Department of Treasury, posted an Alert on “Increased Vigilance for Potential Russian Sanctions Evasion Attempts.” Russia, along with Belarus, have been targeted with economic sanctions designed to pressure these countries following the unprovoked invasion of Ukraine. FinCEN… Read More

March 6, 2022 @ 7:46 pm By JD Alois  |  

There has been a fair amount of discussion regarding Russia using crypto to evade sanctions. First, crypto as a market is simply too small to be an effective tool for the Russian government to utilize it to mitigate the full impact of the economic blockade…. Read More

March 6, 2022 @ 4:16 pm By Omar Faridi  |  

The correlation of Bitcoin to the Nasdaq is currently ~57%, “climbing over the past week,” according to an update from BitOoda. As the team at BitOoda had noted this past week, the Russian invasion of Ukraine led to “a large sell off that reversed faster… Read More

March 4, 2022 @ 5:19 pm By JD Alois  |  

The Swiss Financial Market Supervisory Authority FINMA has ordered protective measures regarding Sberbank AG, one of the Russian banks targeted with sanctions. Switzerland has joined the economic sanctions along with the EU and other nations to apply pressure to Russia following its unprovoked war with… Read More

March 4, 2022 @ 12:42 pm By JD Alois  |  

Recently Switzerland has taken unprecedented steps to apply economic sanctions targeting Russia due to its unprovoked war with Ukraine. Historically neutral when it comes to political conflict, the criminal act by Russia and Vladimir Putin was simply too much for the Alpine nation. Today, Switzerland… Read More

March 3, 2022 @ 5:34 pm By JD Alois  |  

The US Department of Treasury has been contacting cryptocurrency platforms cautioning them about the possibility of cyber-attacks emanating from Russia following Russia’s unprovoked war against Ukraine. According to a report by Reuters, a person with knowledge of the conversations said following the sanctions leveled against… Read More

March 2, 2022 @ 10:52 pm By Tony Zerucha  |  

Animoca Brands, a blockchain gaming powerhouse is responding to the war in Ukraine but prohibiting Russian involvement with its business and properties, according to a Bloomberg article published today. A member of the Financial Times High Growth Companies Asia-Pacific 2021 list, Animoca Brands develops digital… Read More

March 2, 2022 @ 3:04 pm By Omar Faridi  |  

US-based digital asset firm Coinbase Global Inc (NASDAQ: COIN) confirmed that it would continue to block accounts and transfers of Russian customers targeted by US and EU-led sanctions. However, the crypto exchange has stopped short of banning all customers from Russia As reported by Reuters,… Read More

February 28, 2022 @ 3:07 pm By JD Alois  |  

Earlier today, the Swiss Federal Council adopted the European Union (EU) sanctions packages of February 23 and 25. The move is designed to remove Switzerland as an option for  Russia to evade economic sanctions as Russia continues its criminal act of war against Ukraine. Switzerland… Read More

February 27, 2022 @ 4:43 pm By JD Alois  |  

While the humanitarian crisis grows in Ukraine and Russia’s unprovoked war rages on, the European Union (EU) announced that selected Russian banks have been removed from the SWIFT messaging system. While the names of the bank were not immediately available, any on the list will… Read More

February 25, 2022 @ 8:20 am By Omar Faridi  |  

International markets are experiencing a massive increase in volatility with Russia’s invasion of Ukraine. The severe humanitarian crisis that could unfold over the next few days and weeks “could be the worst in Europe in decades, with loss of life and property, as well as… Read More