WEEKLY EDITION BY NIKITA ALEXANDER

Welcome to The Global Treasurer's latest Weekend Digest, your go-to source for the week's top insights and updates tailored for treasury professionals.

What are the most popular articles from this week? We've put together a weekend list, so you never miss out.

In this issue, you'll find:

• UK’s new anti-fraud law shifts liability - Treasurers must prepare for September 2025 enforcement.

• U.S. escalates oil sanctions on Iran - Chinese refineries and tankers face crackdown.

• Gold surges to record highs - Market jitters and dollar drop drive safe-haven demand.

We’re here to ensure you stay informed, inspired, and ready to tackle the week ahead.

NEWS ANALYSIS

A Treasurer's Guide to the "Failure to Prevent Fraud" Law

The clock is ticking for UK businesses to get ready for a major regulatory shift. From September 1st, 2025, the Failure to Prevent Fraud offence under the Economic Crime and Corporate Transparency Act comes into effect - placing criminal liability on companies for failing to prevent fraud by employees or agents.

Treasury teams are on the frontline, with expectations to implement “reasonable prevention procedures” akin to the Bribery Act. With APP fraud topping £500m in losses in H1 2024, regulators are pushing for stronger internal controls, deeper due diligence across supply chains, and strategic use of anti-fraud tech. Compliance is no longer a checkbox exercise - it’s a strategic imperative.

NEWS ANALYSIS

US Intensifies Pressure on Iran's Oil Trade with New Sanctions and Bold Declarations

Washington has escalated its maximum pressure campaign against Iran, targeting a key Chinese refinery and the opaque “shadow fleet” transporting sanctioned oil. The U.S. Treasury's new round of sanctions, announced alongside indirect nuclear talks in Rome, aims to cut Iran’s oil revenues to zero.

With front companies linked to the Revolutionary Guard now in the crosshairs, the crackdown sends a clear warning to global compliance teams. New OFAC guidance urges shipping and finance players to boost due diligence. China, the top buyer of Iranian crude, has condemned the move - adding another layer of complexity for multinational treasurers navigating sanctions exposure.

NEWS ANALYSIS

Gold Prices Hit New Record

Gold surged to a record $3,384 per ounce, reflecting heightened investor anxiety as U.S.-China trade tensions escalate and the dollar hits a three-year low. With markets pricing in stagflation risks and central bank independence under scrutiny, investors are flocking to safe-haven assets.

Analysts cite a “crowded” positioning in gold markets, but momentum remains strong as geopolitical and monetary risks grow. The outlook? Gold could soon hit $3,500, especially as the Fed faces growing pressure amid inflation and political uncertainty.

For treasurers, the message is clear: hedging strategies and FX risk management need to reflect an increasingly volatile macro environment.