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United States
Sanctions
OFAC Issues New Form for Reporting Russian Sovereign Assets
By Editors | 24/07/2024
The form is part of implementing a law passed in April to enable the confiscation of Russian sovereign assets frozen in the US.
Enforcement
Hong Kong Court Jails Three in Landmark Manipulation Case
By Sanday Chongo Kabange | 23/07/2024
The jail sentences are the heaviest and longest imposed for market manipulation since the SFO came into effect in 2003.
AML / KYC
US House Passes Bill to Combat Crypto-enabled Illicit Finance
By Nithya Subramanian | 23/07/2024
Under the bill, an independent financial technology working group will be established to examine illicit finance in the digital asset ecosystem.
Capital / Liquidity
US Banks Not Managing Operational Risk Well, OCC Finds
By Nithya Subramanian | 23/07/2024
Confidential assessments by the OCC reportedly found that many banks scored poorly on their management of operational risk.
Sanctions
OFAC Issues Guidance on Extended Statute of Limitations
By Editors | 22/07/2024
OFAC plans to extend record-keeping requirements from five to ten years, to match the new statute of limitations period.
AML / KYC
Philippine SEC Launches New Digital Services Platform
By Editors | 22/07/2024
The eSECURE platform will serve as a user’s digital passport to the different online services provided by the SEC.
Sanctions
UK Publishes Briefing on Third Countries Helping Russia
By Manesh Samtani | 22/07/2024
The briefing names Belarus, Iran, North Korea and China as the main countries providing military support to Russia.
Fintech / Regtech
Global IT Outage: ‘Significant Number’ of Affected Devices Back Online
By Manesh Samtani | 22/07/2024
NAB, CBA, SGX, LSE, Amex, Barclays, Macquarie Capital, and TD Bank were among those impacted, along with some Indian and Philippine banks.
Enforcement
US SEC Sets Up Interagency Securities Council to Combat Fraud
By Nithya Subramanian | 22/07/2024
The objective of the new council is to strengthen collaboration between federal, state, and local agencies to protect investors from fraud.
AML / KYC
Singapore Says Jho Low Red Notice Remains in Effect
By Nithya Subramanian | 22/07/2024
Jho Low’s civil settlement with the US DOJ has “no bearing” on criminal investigations against him and his associates in Singapore.
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