Sanctions

AML / KYC

RUSI Publishes Virtual Assets Risk Assessment Guide

By Editors | 12/08/2023

The guide offers a ‘virtual assets risk assessment framework’, as well as risk mitigation strategies and best practices.

Sanctions

Russia Suspends Tax Agreements with 38 Countries

By Mark Johnston | 11/08/2023

The double-taxation treaties are suspended in view of “unfriendly actions” of certain countries.

Sanctions

US, Canada, New Zealand Target Belarus With New Sanctions

By Editors | 10/08/2023

The coordinated sanctions come on the three-year anniversary of a presidential election which Alexander Lukashenko won by allegedly falsifying votes.

AML / KYC

UOB to Tighten Restrictions on Myanmar Business from 1 September

By Mark Johnston | 10/08/2023

UOB will restrict payments to and from Myanmar accounts, card transactions for Myanmar individuals and banks, and close Myanmar banks’ nostro accounts.

Sanctions

US Treasury Clarifies Stance on Humanitarian Aid to Syria under Sanctions

By Editors | 09/08/2023

The guidance is the latest in a series of OFAC actions aimed at clarifying the US government’s stance on humanitarian trade.

Sanctions

UK Targets Third Country Military Suppliers With Sanctions

By Editors | 09/08/2023

The sanctions target individuals and businesses in Iran, Turkey, Belarus, Slovakia, Switzerland, the UAE and Russia for supporting the war in Ukraine.

Sanctions

OFAC Halts $26m in Funds Tied to Indian Diamond Traders

By Editors | 08/08/2023

OFAC reportedly suspects fund transfers were made to diamond suppliers with links to Russian miners and sanctioned bodies.

Crypto / Digital Assets

Lazarus Group Shuffles $8.5m of Stolen Crypto Across Blockchains

By Editors | 04/08/2023

The hacker group is again in the spotlight, after analysts observed the group moving approximately $8.5mn in stolen crypto across multiple blockchains.

AML / KYC

US SEC Flags Deficiencies in Broker Dealer AML Programmes

By Editors | 03/08/2023

Some broker dealers had deficiencies in independent testing, staff training, customer identification and due diligence practices.