Ukraine crisis puts platforms under regulatory pressure; UK lawmakers target Russian money

MLex Market Insight

News

4.9 • 9 Ratings

🗓️ 4 March 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Russia’s invasion of Ukraine isn’t the first war to be chronicled online, but social media and other Internet platforms have played a particularly important role in the conflict. That prominence may now lead to tighter regulatory scrutiny from governments on both sides of the conflict, amid claims and counterclaims about state-back disinformation campaigns. Also on the podcast: After years of dithering, the UK government appears to be serious about introducing tough legislation that will target suspect money flowing through the country’s financial system. The proposed law, which would also introduce a register of foreign entities, had long been considered; but it was the crisis in Ukraine and the need to address Russian interests in the UK that got the bill off the drawing board.

Transcript

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0:00.0	Hello, it's great to see you again.
0:12.2	You're with Emlex's weekly podcast covering the top regulatory stories of the moment.
0:17.3	James Panicki with you.
0:18.7	Thank you for taking the time to listen.
0:22.6	Now, this week, we're going to cover the regulatory fallout from Russia's invasion of Ukraine. Of course, all of this pales into
0:29.2	insignificance when compared to the human toll of the war. Nonetheless, our reporters have been
0:35.2	working away to try to gain some understanding on how
0:39.1	these tragic events will reverberate around the world. In just under 10 minutes from now,
0:44.7	our London-based financial crime reporter Martin Coyle will be joining us to discuss how
0:50.0	the long-awaited UK financial crime measures have been given a new lease of life.
0:55.9	First up, though, to the central role that social media is playing in the invasion.
1:01.8	Indeed, it's hard to think of any geopolitical event in recent times
1:05.9	in which the stance of internet platforms has been so controversial and so closely scrutinised.
1:12.9	The United States and the European Union have already urged social media to curb Russian
1:18.9	disinformation. Some platforms have acted, sparking a backlash from the Russian government.
1:25.5	So how is Silicon Valley dealing with these unprecedented challenges?
1:30.7	Mike Swift is MX's Global Digital Risk Correspondent,
1:34.0	and he joins us again this week from San Francisco.
1:38.1	And Mike, firstly, what's the latest on how companies like Google, Meta and Twitter
1:43.7	are reacting to Russia's
1:46.3	invasion of Ukraine?
1:48.0	Right. So it's a very fluid, fast-moving situation. The media obviously has always been part
	...

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