Ukraine crisis renews importance of KYC

Sanctions and transaction reporting grow in prominence

Alexander Campbell

As Operational Risk & Regulation went to press, the crisis in Ukraine was still in full swing. Although only warning shots had been fired by the Russian troops in Crimea, tensions were still very high, with European and US envoys crisscrossing the continent amid a storm of misinformation and threat. And once again western governments were reaching for one of their most commonly used tools of foreign policy: economic sanctions. Even before the invasion, the European Union had announced its