Sanctions

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

By Editors | 27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

By Editors | 21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.

AML / KYC

DPRK ‘Launders’ Vessel Identities to Evade Sanctions: C4ADS

By Editors | 15/09/2021

C4ADS says fraudulent ship registrations created with the IMO are being used to ‘launder’ the identity of vessels associated with illicit activities.

AML / KYC

Philippine SEC Disseminates Guidance on Targeted Financial Sanctions

By Editors | 12/09/2021

The guidance now covers targeted financial sanctions related to terrorism, terrorism financing, and proliferation financing, including remedies and relevant UNSC links.

AML / KYC

OFAC Fines Bank of China UK for Sudan Sanctions Breach

By Editors | 01/09/2021

BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.

AML / KYC

FATF Releases Mutual Evaluation Report for Japan

By Manesh Samtani | 30/08/2021

The report says more needs to be done to combat organised crime and WMD proliferation risks, and a joint-agency body should be designated for setting national AML/CFT policies.

AML / KYC

Screening Financial Instruments for Investment-related Sanctions Risk

By Manesh Samtani | 26/08/2021

Refinitiv identified over 190,000 financial instruments relevant to the US investment ban against Non-SDN Chinese Military-Industrial Complex Companies as of 28 July.

AML / KYC

Adoption of Anti-Sanctions Law in Hong Kong Deferred – Reports

By Sanday Chongo Kabange | 25/08/2021

Hong Kong’s delegate to the NPC Standing Committee Tam Yiu-chung says the vote was delayed pending further study.

Market Infrastructure

Australia Consults on Disciplinary Body for Financial Advisers

By Editors | 11/08/2021

The government is consulting on regulations to support the establishment of the single disciplinary body that will form part of the new regime for financial advisers.