AML / KYC

AUSTRAC Releases Two National Risk Assessments

09/07/2024

The NRAs provide an understanding of the scale, sophistication and threat of money laundering and terrorism financing in Australia.

Enforcement

Singapore CEO Fined for False Announcement, Insider Trading

09/07/2024

The former CEO was fined SGD 310,000, “voluntarily disgorged” about SGD 630,000, and is disqualified from being a director for 5 years.

Capital / Liquidity

PBOC Expands Toolbox for Managing Liquidity, Rates

09/07/2024

The PBOC now has access to “hundreds of billions” worth of government bonds which it could sell into the market.

Sanctions

US Treasury Proposes to Expand Jurisdictional Reach of CFIUS

09/07/2024

The proposed rule adds 56 military installations to the list of installations around which CFIUS has jurisdiction.

Capital / Liquidity

BCBS Consults on Technical Amendments and New FAQs

09/07/2024

One amendment addresses an inconsistency in how “specialised lending” is defined between the SA and IRB approach to credit risk.

Securities / Derivatives

KRX, Naver to Collaborate on Market, Cyber Surveillance

08/07/2024

A key component of the collaboration is to increase monitoring of Naver Pay’s stock discussion rooms and “Shareholder Open Talk” communities.

Sanctions

Russia, Iran Integrate National Payment Systems

08/07/2024

Work to link Russia’s MIR network and Iran’s Shetab has been finalised. Agreement also signed on use of national currencies.

AML / KYC

Nordea Charged for Laundering $3.8b for Russian Clients

08/07/2024

Danish authorities said Nordea did not adequately investigate transactions by Russian clients and ignored other warnings.

Sanctions

US Working on Plan to Target Russian ‘Shadow Fleet’ Vessels

08/07/2024

The US is reportedly looking to impose specific penalties on Russian shadow fleet tankers but the effort has stalled.