Enforcement

FSS Korea Launches Bank Inspections to Assess Lending

16/07/2024

The FSS will assess whether banks are managing loans appropriately and complying with the DSR limits and other regulations.

Enforcement

Former China Taiping Official Pleads Guilty on Bribery Charges

15/07/2024

Xiao Xing took CNY 81 million in bribes over more than 25 years while serving as a senior government official and as a senior executive at two state-owned insurers.

Sanctions

Canada Issues Draft Amendments to AML/CFT Regulations

15/07/2024

The proposed amendments will require firms to report sanctioned property and suspected sanctions evasion offences, among other changes.

Enforcement

Japan Makes First Arrest for Russia Export Control Violation

15/07/2024

A Russian national operating a trading company in Osaka was arrested for illegally exporting restricted goods to Russia via South Korea.

Sanctions

Expert Calls for International Sanctions on Myanmar Central Bank

15/07/2024

Sean Turnell says sanctioning the CBM would effectively embargo Myanmar’s entire banking system and limit the SAC’s ability to oppress the Myanmar people.

Sanctions

Czech Republic Convicts Local Resident for Sanctions Violation

15/07/2024

A Czech national of Russian origin tried to export three luxury cars to Russia, which has been prohibited since March 2022.

Sanctions

US Sanctions Iranian Chemical Weapons Research Company

15/07/2024

This is the first time the Biden administration has imposed sanctions against Iran’s chemical weapons programme.

EU Seeking to Prevent Sanctions Evasion via Vietnam, Malaysia

15/07/2024

EU sanctions envoy David O’Sullivan said China is a “growing problem” as a circumvention hub, but Vietnam and Malaysia are among the next priorities.

AML / KYC

AUSTRAC to Deliver New Reporting Platform in “Coming Months”

15/07/2024

AUSTRAC said in 2021 that it would be replacing its reporting system. The final stage of features will be delivered in the “coming months”.