Sanctions

AML / KYC

Sanctions Based on UN Consensus Mechanisms are Declining

By Manesh Samtani | 17/11/2022

New Refinitiv paper says one of the most significant trends observed in its analysis of sanctions data is a steep decline in the importance of the UN’s sanctions.

AML / KYC

New US Sanctions Target Network Procuring Tech for Russia

By Editors | 15/11/2022

OFAC sanctions target microelectronics supply network. European Commission issues new FAQs. Canada targets 23 Russian individuals.

AML / KYC

UK OFSI Has Frozen Over $21b of Russian Linked Assets

By Editors | 13/11/2022

Russia has overtaken Libya and Iran to become the UK’s most-sanctioned nation, the OFSI said in its annual review.

AML / KYC

LME Decides Against Banning Russian Metals from Warehouses

By Editors | 13/11/2022

The LME received feedback that a “material portion” of the market is still planning to buy Russian metal in 2023.

AML / KYC

BSP Proposes Draft Regulations on TFS Implementation

By Editors | 10/11/2022

The amendments target terrorist and proliferation financing and are aimed at helping the Philippines secure its removal from the FATF grey list.

Crypto / Digital Assets

OFAC Redesignated Tornado Cash to Link to DPRK WMD Programme

By Editors | 10/11/2022

The August designation did not connect Tornado Cash to North Korea’s nuclear programme.

AML / KYC

AML in Japan: Looking Back to Look Forward

By Hiroshi Ozaki | 09/11/2022

The FSA’s Hiroshi Ozaki and Daisuke Mamba look back at the last four and a half years in the fight against money laundering and terrorist financing in Japan.

AML / KYC

AUSTRAC Issues Updated Guidance on Due Diligence Obligations

By Editors | 04/11/2022

The first guidance document covers enhanced customer due diligence procedures. The second covers the measures for screening employees and training them on ML/TF risks.

Fintech / Regtech

EU Commission Proposes New Rules on Instant Payments

By Manesh Samtani | 30/10/2022

Banks would be required to offer instant payments at the same cost as other credit transfers. Instant euro payments may later be expanded internationally.