International

Sanctions

BVI Government to Establish Dedicated Sanctions Unit

By Editors | 03/04/2024

The new unit is being established with UK support to help ensure the effective implementation and enforcement of sanctions.

Sanctions

US Urges Korea to Restrict Technology Exports to China

By Editors | 03/04/2024

The US has asked South Korea to restrict the flow of equipment and technologies for making high-end logic and memory chips to China.

Fintech / Regtech

The Compliance Complexity Driving RegTech Demand in APAC

By Ed Probst | 02/04/2024

The growing complexity of regulatory requirements including in the reporting space is prompting FIs to rethink their approach to compliance, says Ed Probst.

Crypto / Digital Assets

Russia Using Tether Stablecoin to Circumvent Sanctions – Report

By Editors | 02/04/2024

One China-based smuggler used a Hong Kong distributor, shipments via Central Asia, and Tether for payments to fulfill Russian orders for drone parts.

Enforcement

Two Ex-Sembcorp Marine Execs Charged in Singapore for Corruption Offences

By Editors | 01/04/2024

The two former executives face five charges over bribes paid to Brazilian officials and politicians to further the company’s business interests in the country.

Enforcement

Trafigura Agrees to Pay $126m to Settle FCPA Violations

By Editors | 01/04/2024

The DOJ says Trafigura bribed Brazilian officials from 2003 and 2014 to illegally obtain and retain business and reap over $61mn in profits.

Sanctions

Russia Blocks UNSC Resolution to Extend Mandate of DPRK Expert Panel

By Editors | 31/03/2024

The Russian veto will force the panel of experts to disband at the end of April, though the UNSC sanctions against North Korea will remain in place.

AML / KYC

FATF Sheds Light on Global Implementation of Crypto Standards

By Manesh Samtani | 31/03/2024

91% of jurisdictions with materially important VASP activity have enacted or are in the process of enacting AML/CTF requirements for VASPs.

Crypto / Digital Assets

Nigeria Files Charges Against Binance & Executives

By Editors | 31/03/2024

One of the two Binance executives detained last month escaped custody. Both executives and Binance are accused of money laundering and tax evasion, among other charges.