Sanctions

US DOJ Secures Guilty Plea in Venezuela Sanctions Evasion Case

25/08/2024

The DOJ said George Semerene Quintero lied to US suppliers and created false documents as part of a scheme to evade US sanctions and export controls.

AML / KYC

Most Kyrgyz Banks Have Suspended Money Transfers to Russia

25/08/2024

13 of 16 Kyrgyz banks have halted transfers to Russian lenders via their mobile apps. The central bank said this is to “prevent the negative impact of international sanctions”.

ESG / Sustainability

DBS Becomes First SEA Bank to Use PBOC’s Green Loan Facility

25/08/2024

DBS issued a CNY 500 million green loan facility for a wind power project under the PBOC’s Carbon Emission Reduction Facility.

Market Infrastructure

China Further Opens Up Foreign Investment in Key Sectors

25/08/2024

China’s 2024 negative list removes restrictions in the manufacturing, telecommunications, education, and healthcare sectors.

AML / KYC

TD Bank Provisions Additional $2.6b for Expected AML Penalties

25/08/2024

TD Bank said a global resolution of investigations by prudential regulators, FinCEN and the DOJ is expected by year-end.

AML / KYC

Korean Financial Institutions Launch Credit Transaction Blocking Service

24/08/2024

Consumers can register for a financial system-wide block on credit transactions to protect their accounts from being used for fraudulent loans.

US Federal Court Strikes Down FTC Rule on Non-Competes

24/08/2024

The court found that the FTC exceeded its statutory authority in issuing the rule, which would have banned non-competes from 4 September.

Capital / Liquidity

Korea Confirms Plans to Tighten Lending Rules in September

23/08/2024

Starting in September, the second phase of the ‘Stressed DSR’ rules will apply, and lenders will be required to calculate the DSR for all new household loans.

Crypto / Digital Assets

SFC Finds ‘Unsatisfactory Practices’ at Some Crypto Firms

23/08/2024

The SFC found an overreliance on just a few executives for custody and inadequate safeguards against cybercrime risks.