AML / KYC

Taiwanese Singer Facing Prosecution Over JPEX Crypto Fraud

28/06/2024

Popular Taiwanese singer Nine Chen reportedly received 320,000 USDT to act as JPEX’s brand ambassador last year.

Crypto / Digital Assets

Thailand SEC to Relax Outsourcing Rules for ICO Portals

28/06/2024

The SEC is consulting on amendments that would allow ICO portals to outsource additional business operations beyond what is currently permitted.

HKMA, IA Identify Issues With Premium Financing Practices

27/06/2024

A joint inspection exercise was conducted to assess compliance with new standards for premium financing that were implemented on 1 January 2023

ESG / Sustainability

ISSB Commits to Driving Global Harmonisation in New Work Plan

27/06/2024

The new two-year work includes work to streamline and consolidate frameworks and standards for disclosures about transition plans.

Market Infrastructure

Malaysia Gazettes New Law to Strengthen Cyber Resilience

27/06/2024

The legislation will lead to new obligations for ‘National Critical Information Infrastructure’ sectors and a licensing regime for cyber security service providers.

Sanctions

Iraq’s Al-Huda Bank Cut Off from US Financial System

27/06/2024

FinCEN rule identifies Al-Huda Bank as a “foreign financial institution of primary money laundering concern”.

Enforcement

OFAC Fines Italian Animation Company for Sanctions Violations

27/06/2024

Mondo TV made wire transfers via US financial institutions to an animation studio owned by the North Korean government.

AML / KYC

New AMLA to Receive EBA’s AML/CFT Powers by End 2025

27/06/2024

The EBA said it will transfer its AML/CFT powers and mandates to the AMLA by the end of December 2025.

ESG / Sustainability

New Guidance Issued for Green Enabling Projects and SLLBs

26/06/2024

SLLBs, or “Sustainability-Linked Loan financing Bonds”, will enable issuers to finance or re-finance portfolios of sustainability-linked loans.