Sanctions

Australia Announces First Use of Cyber Sanctions Powers

23/01/2024

Australia imposed sanctions against Russian national Aleksandr Ermakov, who was linked to the 2022 Medibank breach.

Sanctions

US, UK, Australia Announce New Round of Hamas Sanctions

23/01/2024

OFAC said the sanctions target Hamas, its financiers, and its international financial infrastructure, including crypto transfers.

Fintech / Regtech

SEBI to Start Using GenAI to Assess IPO Applications – Report

22/01/2024

SEBI chairperson Madhabi Puri Buch reportedly set up a task force and asked every department head to explore GenAI use cases.

Fintech / Regtech

Singapore Releases Draft Governance Framework on GenAI

22/01/2024

IMDA and the AI Verify Foundation are seeking feedback on a draft Model AI Governance Framework for Generative AI until 15 March.

AML / KYC

Singapore Money Laundering Case Tops S$3bn in Assets

22/01/2024

Warrants of arrest and Interpol Red Notices have also been issued against two more Cambodian nationals for money laundering offences.

Sanctions

EU Discusses 13th Sanctions Package for Russia – Report

22/01/2024

The package could include further listings, more trade restrictions. and cracking down on Russia’s ability to circumvent sanctions via third countries.

Enforcement

US Regulators Fine ICBC New York Branch for Regulatory Violations

22/01/2024

ICBC disclosed confidential supervisory information without regulatory approval and had deficiencies in its BSA/AML compliance programme.

Sanctions

US Sanctions Prompt Turkish Banks to Reject Russian Payments

22/01/2024

Turkish banks are now refusing to accept payments from Russian banks for exports, due to the threat of US sanctions.

Enforcement

BNP Paribas Fined in Taiwan for Violating Insurance Regulations

22/01/2024

The FSC said BNP failed to fully separate its business units and outsourced information operations to the cloud without prior regulatory approval.