Sanctions

UK Imposes Sanctions on 11 Russian ‘Shadow Fleet’ Vessels

21/07/2024

The measures are part of a joint “Call to Action” with European countries to disrupt the ‘shadow fleet’ of vessels Russia uses to circumvent oil sanctions.

AML / KYC

FATF Upgrades New Zealand on Five Recommendations

21/07/2024

Revised AML/CFT regulations adopted in June 2023 addressed most deficiencies in recommendations 14, 16, 18, 22 and 23.

Enforcement

Visa Suspected of Violating Japan’s Antimonopoly Act – Reports

21/07/2024

The FTC is probing Visa’s local unit and plans to explore whether its US headquarters and Singapore unit played a role in the suspected violations.

AML / KYC

US Banking Regulators Propose to Update AML Requirements

21/07/2024

The Federal Reserve, FDIC, NCUA, and OCC said the amendments are intended to align with changes recently proposed by FinCEN.

ESG / Sustainability

Thai Stock Exchange to Update ESG Ratings Methodology

21/07/2024

The updated methodology will place “greater emphasis on publicly available information, reinforcing transparency and credibility in the assessment”.

Sanctions

OFAC Sanctions Two Members of the ‘Cyber Army of Russia’

21/07/2024

Two Russian nationals separately pleaded guilty to participating in LockBit ransomware attacks, the DOJ announced separately.

Enforcement

Amex Fined in Australia for Issuing Unsuitable Credit Cards

20/07/2024

The decision highlights requirements for product issuers to actively review whether their target market determinations remain appropriate over time.

AML / KYC

Thai Banks Urged to Tighten Scrutiny of Myanmar Transactions

20/07/2024

Thai Foreign Minister told parliament that the government will meet with banks regarding their due diligence processes for Myanmar transactions.

ESG / Sustainability

Japan FSA to Promote Earlier Issuance of Annual Reports

20/07/2024

The FSA will soon hold a market consultation on measures to encourage companies to issue annual reports early, as recommended by the ICGN.