Central Bank Guidance to UAE Financial Institutions Banking Cash-Intensive Businesses

The Central Bank of the UAE (“CBUAE”) has issued new guidance (the “Guidance”) to UAE financial institutions providing services to cash-intensive businesses. The specific characteristics of cash—anonymity, interchangeability, and transportability—make it an attractive medium for illicit actors seeking to obfuscate the proceeds of crime or the funding of terrorism.  Unlike other monetary instruments, such as …
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New Central Bank Guidance for UAE Financial Institutions on Suspicious Activity/Transaction Reporting

On June 7, 2021, the UAE Central Bank issued new guidance requiring all UAE financial institutions to file suspicious activity reports (SARs) or suspicious transaction reports (STRs) with the UAE’s Financial Intelligence Unit (FIU) using the goAML portal within 35 calendar days of detection of any conduct that they reasonably suspect may be linked to …
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A Western bank sent a memo advocating a coup against Brazil’s left-wing presidential hope

Support us and go ad-free A Western bank sent out a report in Brazil that presented a coup against a left-wing candidate in next year’s presidential elections as a good thing. The thinly-veiled threat is endemic of the global shutting down of progressive politics. Lula: Brazil’s only hope? The Canary has documented Jair Bolsonaro’s time …
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Auditors for Greensill Capital and Sanjeev Gupta-linked bank face investigation

Support us and go ad-free The UK’s accounting regulator has opened an investigation into Saffery Champness over its audit of Greensill Capital. The latter has faced scrutiny over the role its advisers, including former prime minister David Cameron, played in lobbying the government during the pandemic. The Financial Reporting Council (FRC) will also investigate accounting …
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Israeli air strike on Gaza City kills 10 as unrest spreads to the West Bank

An Israeli air raid in Gaza City has killed at least 10 Palestinians, mostly children, in the deadliest single strike since Israel began its most recent assault on Gaza. There were also widespread Palestinian protests on Friday in the occupied West Bank, where Israeli forces shot and killed 11 people. These attacks by Israel have …
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Israel is reportedly about to seize more West Bank land for settlement expansion

Israel has notified Palestine landowners of plans to seize more West Bank land in an illegal settlement expansion, according to the Wafa news agency. Ghassan Daghlas, monitor of colonial settlements in the northern West Bank, told the agency that Israeli forces will take land from villagers in Burin, Madama, and Asira al-Qibliya, near Nablus. Daghlas …
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MO MONEY MO-BILITY: Disability Scooter Bandit Holds Up Blackpool Bank in 12 HOUR Police Standoff

A MAN armed with a Mobility-scooter and a held up a branch of Halifax in Blackpool yesterday leading to a SIX HOUR police standoff. Eyewitnesses said the man “poured petrol on himself and furniture” inside the bank in Blackpool’s town centre. Lancashire Police rushed to the scene after reports that a man had poured petrol …
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