AML / KYC

Malaysia SC Issues Revised AML/CFT/CPF Guidelines

17/06/2024

The updated guidelines include requirements to identify and perform due diligence on counterparty VASPs before transmitting information to them.

Sanctions

G7 Leaders Issue Joint Sanctions Warning Against China

17/06/2024

The G7 vowed to take measures against actors in China that materially support Russia’s “war machine”, including FIs.

Sanctions

EU Sanctions Package Delayed Over Verification Rule

16/06/2024

Germany fears that its exporters could be impacted by requirements to verify that customers are not transshipping goods to Russia.

Sanctions

Indian Banks Calls on Government to Set Up “OFAC Cell”

16/06/2024

Bankers say an “OFAC cell” created within the DFS could help them minimise the risks of sanctions non-compliance.

AML / KYC

MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’

16/06/2024

Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.

Sanctions

US Sanctions Israeli Group for Blocking Humanitarian Aid

16/06/2024

Last month, the group’s members “looted and then set fire to two trucks” carrying humanitarian aid destined for Gaza.

Sanctions

US, Türkiye Issue Joint Sanctions on ISIS Supporters

15/06/2024

The US sanctions, coordinated with the Turkish government, target supporters of a human smuggling gang linked to ISIS.

Crypto / Digital Assets

Japan Regulator Issues Orders Against Crypto Firm CoinBest

15/06/2024

CoinBest’s IEO operations are suspended and the company is required to make improvements to its management, internal control and AML/CFT systems.

Securities / Derivatives

HK Investment Banks Call for Easing of Stock Buyback Rules

15/06/2024

Investment banks are reportedly asking HKEX to make it possible for issuers to use convertible bond proceeds for share buybacks, without EGM approval.