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AML / KYC
AUSTRAC Releases First Proliferation Financing Risk Assessment
By Manesh Samtani | 15/12/2022
Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.
Enforcement
Singapore Jails Man for Exporting Beverages to North Korea
By Editors | 14/12/2022
The man, while working as a manager for Pokka International, sold beverages he knew would later be exported to North Korea for commercial trade.
Sanctions
China Files WTO Complaint Over Semiconductor Export Controls
By Editors | 14/12/2022
China is separately working on a CNY 1 trillion support package to expand domestic semiconductor production and research activities.
Sanctions
EU Commission Proposes Ninth Russia Sanctions Package
By Editors | 12/12/2022
The package covers almost 200 individuals and entities, including three more Russian banks. More export controls, mining investments, and Russian TV channels also targeted.
Enforcement
US Sanctions Nasdaq Listed Company, Other ‘Corrupt’ Actors
By Manesh Samtani | 12/12/2022
The sanctions were connected to illegal fishing. The US, UK and Australia also sanctioned dozens of others in recognition of International Anti-Corruption Day and Human Rights Day.
AML / KYC
Korea FSS Directs Shinhan Bank to Bolster Crypto AML Systems
By Editors | 08/12/2022
The recommendations follow bank inspections that were launched in response to suspicious FX transactions used by customers to exploit the so-called “kimchi premium”.
AML / KYC
Japan Lawmakers Approve Revisions to Anti Financial Crime Laws
By Editors | 07/12/2022
The revisions will allow Japanese authorities to criminally punish crypto firms that do not comply with the Travel Rule.
Sanctions
US, Korea, Japan Sanction DPRK Over Missile Tests
By Manesh Samtani | 05/12/2022
The sanctions were imposed in response to recent ballistic missile tests, including one that had enough range to reach the US mainland.
AML / KYC
US Court Dismisses Remaining Charges Against Huawei CFO
By Editors | 05/12/2022
The charges against Meng Wanzhou were dismissed as part of her September 2021 deferred prosecution agreement.
AML / KYC
G7 Powers Set to Implement Oil Price Cap on Russian Crude
By Editors | 04/12/2022
EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.
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