AML / KYC

Taiwan Banks to Allow Companies to Open Accounts Digitally

26/08/2024

The FSC said banks should allow “all types” of non-individual clients to open digital deposit accounts, provided appropriate verification, controls and monitoring are in place.

FCA Chair Accused of Breaching Whistleblower Confidentiality

26/08/2024

FCA chair Ashley Alder reportedly forwarded a whistleblower’s correspondence to other staff members, revealing their identity without their consent.

Enforcement

French Police Arrests Telegram Chief Executive Pavel Durov

26/08/2024

French authorities allege a lack of moderation on Telegram to prevent criminal use, and failure to cooperate with law enforcement in criminal cases.

Enforcement

US Warns Countries Against Allowing Russian Banks to Set Up Branches

26/08/2024

Deputy Treasury Secretary Wally Adeyemo said the US will go after the branches as well as other entities and companies that work with them.

Sanctions

US Announces New Russia Sanctions Against Nearly 400 Targets

26/08/2024

The targets include individuals and entities from across 16 jurisdictions, including China, Hong Kong, Switzerland and the UAE.

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.