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Uganda court charges senior finance officials with corruption over central bank hacking

JURIST

A Ugandan court on Wednesday charged nine senior officials from the Ministry of Finance, Planning, and Economic Development over their alleged involvement in corruption, electronic fraud, and money laundering in connection with a hacking incident that led to a financial loss of at least $21 million from the countrys central bank.

Finance 132
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Singapore sanctions Russia over Ukraine invasion

JURIST

The financial measures imposed prohibit financial institutions in Singapore including banks, finance companies, insurers, capital markets intermediaries, securities exchanges and payment service providers from transacting with Russian banking and non-banking entities.

Finance 205
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Russia announces sanctions against 18 British nationals

JURIST

Russia announced new sanctions against 18 British nationals in response to the UK’s “confrontational policies” against Russia on Monday. The sanctions were made against not only the UK’s government officials but also scholars. In December 2023, the UK government introduced the seventh trade sanctions package.

Education 197
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Afghanistan dispatches: ‘neither the central bank nor any other bank for that matter can properly conduct banking activities’

JURIST

Here, a Staff Correspondent for JURIST in Kabul comments on the country’s banking crisis, currently complicated by international restrictions and sanctions. The Taliban-led central bank, Da Afghanistan Bank, recently declared that the country’s banking sector will resume normal operations soon.

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EU suspends Russia and Belarus from Council of the Baltic Sea States

JURIST

During its suspension, Russia will not have access to programs such as the CBSS Project Support Facility to co-finance the development and implementation of Baltic Sea macro-regional cooperation projects. The World Bank has halted all programs in Russia and Belarus.

Finance 208
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UK police arrest environmental movement founder after protests against financial institutions

JURIST

The charges are related to last month’s protests against multiple banks , including HSBC and Barclays. Extinction Rebellion activists smashed the windows of banks in Canary Wharf and targeted Lloyd’s of London in what the group is calling a “Money Rebellion.”

Finance 104
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UK court finds Mozambique president cannot be sued in UK over bribery allegations

JURIST

The state of Mozambique alleges that the private company Privinvest, alongside the investment banks such as Credit Suisse, paid over $100 million in bribes to gain official government loans. In July 2023, Mozambique’s former Finance Minister Manuel Chang was extradited to the US to face criminal corruption charges.

Court 118