PEPs & Sanctions

OFAC Unveils More Sanctions Over Iran Commodity Shipments

26/03/2024

The sanctions target a Lebanon-based financial facilitator, two vessels, and entities registered in Liberia, India, Vietnam, and Kuwait.

Structural Regulation

China’s Largest Brokerage Under Scrutiny for IPO Sponsor Role

26/03/2024

Citic Securities did not “directly reply” to a query from the SZSE  on whether an IPO applicant it was sponsoring had overly concentrated shareholdings among a few individuals.

Anti-Money Laundering

Netherlands: Trial Against Tornado Cash Co-founder is Underway

26/03/2024

Alexey Pertsev is accused of participating in Tornado Cash’s money laundering activities. A verdict is expected six weeks after the trial concludes this week.

Anti-Money Laundering

Bring Environmental Crime Back into Policy Spotlight: World Bank

26/03/2024

World Bank blog post calls for increased coordination between money-laundering prevention and environmental protection agencies.

Reporting & Disclosures

Hong Kong Reinforces Commitment to ISSB-aligned Sustainability Disclosures

26/03/2024

The HKICPA will lead the work to develop local sustainability reporting standards along with complementary application and implementation guidance.

Fraud, Scams & Cybercrime

Malaysia SC Enhances PLC Surveillance With AI Technology

26/03/2024

An internally developed AI-powered tool called ‘PLC360’ can predict the likelihood of misconduct and identify emerging trends and supervisory concerns.

PEPs & Sanctions

OFAC Sanctions Crypto Targets Over Russia Sanctions Evasion

26/03/2024

The sanctioned entities either helped build or operate blockchain-based services or enabled virtual currency payments in the Russian financial sector, enabling potential sanctions evasion.

Data Privacy

China Relaxes Rules on Cross-border Data Transfers

26/03/2024

The new rules allow businesses to transfer certain types of data overseas without declaration or security reviews, addressing concerns from foreign businesses.

Emerging Prudential Risks

RBNZ Finalises New Guidance on Managing Climate Risk

26/03/2024

Accounting for consultative feedback, the guidance includes more examples, reduces overlaps with other guidance, and draws more links to existing parts of the prudential regime.