INTERNATIONAL

AML / KYC

OFAC Sanctions Cambodian Tycoon for Scam Centre Operations

By Manesh Samtani | 13/09/2024

Billionaire Ly Yong Phat was sanctioned for his role in human trafficking and human rights abuses tied to scam centre operations he controls in Cambodia.

AML / KYC

GCFFC Calls for Better Access to Global Beneficial Ownership Data

By Manesh Samtani | 12/09/2024

In a new report, the GCFFC outlines key considerations for building technological systems to standardise the collection and publication of BO data across jurisdictions.

Sanctions

OFAC Sanctions Hezbollah Oil and LPG Smuggling Network

By Editors | 12/09/2024

The sanctions target a senior Hezbollah finance team official, two Lebanese businessmen and companies they operate, along with a shipping company and two vessels.

Sanctions

US Says China Providing Direct Support to Russian Military

By Editors | 12/09/2024

US Deputy Secretary of State Kurt Campbell said China is supplying items that are directly helping Russia’s military effort in Ukraine.

Enforcement

Israeli National Pleads Guilty for Exporting Aircraft Parts to Russia

By Editors | 11/09/2024

Gal Haimovich exported US-made aircraft parts and avionics to Maldives and UAE intermediaries for ultimate delivery to Russian airline companies.

Enforcement

US Authorities Arrest Man for Selling Laser Equipment to Russia

By Editors | 11/09/2024

The man allegedly sold laser equipment to a Russian citizen who then resold the goods to a subsidiary of Russian state nuclear company Rosatom.

Sanctions

US, UK Sanction Iran Over Missile Delivery to Russia

By Editors | 11/09/2024

The UK, France and Germany will also cancel air services arrangements with Iran, restricting Iran Air’s ability to fly into the UK and Europe.

Crypto / Digital Assets

Japan’s Megabanks to Pilot Blockchain Cross-Border Payments System

By Thisanka Siripala | 10/09/2024

The Japanese megabanks will start piloting stablecoins to simplify the cross-border payments process. The new system is expected to go live in 2025.

AML / KYC

France Releases Telegram CEO on €5m Bail and Conditions

By Manesh Samtani | 10/09/2024

Telegram modified its content moderation policies, allowing users to flag content in private and group chats that they believe is illegal, among other changes.