Sanctions

West Imposes More Iran Sanctions in Response to Protest Handling

29/01/2023

Iran responded with sanctions against EU and UK individuals and entities. IAEA director general Rafael Grossi plans to visit Iran in February for “much needed” political dialogue.

AML / KYC

FinCEN Warns of Sanctions Evasion in Commercial Real Estate

29/01/2023

New FinCEN alert lists potential red flags and typologies involving attempted sanctions evasion in the CRE sector by sanctioned Russians and their proxies.

Securities / Derivatives

Korea FSC Unveils New Risk Rating System for Investment Products

29/01/2023

Due for implementation in Q4, the new system will apply an industry-wide common standard to investment product risk ratings to improve reliability and comparability for investors.

Crypto / Digital Assets

FBI Confirms DPRK Hackers Behind $100m Horizon Bridge Crypto Theft

29/01/2023

The FBI was able to freeze a portion of the stolen funds, in coordination with some virtual asset service providers.

Laos Closes All Non-State Currency Exchange Channels

29/01/2023

Currency exchange transactions in Laos can now only be done through state-run banks. The move has resulted in nationwide business disruptions.

Enforcement

Korea FSC Issues Guidelines on Employee Personal Trading

29/01/2023

Financial firms should strengthen their internal controls and pre-trade checks to ensure executives and employees are not using “borrowed” accounts for personal trading.

Securities / Derivatives

US SEC to Prohibit Conflicts of Interest in Securitisation Transactions

27/01/2023

The rule, first proposed in 2011 but never finalised, will prohibit firms participating in asset-backed securities from betting against investors in those securities.

AML / KYC

German Prosecutors Search BNP Paribas Offices in Cum-Ex Probe

27/01/2023

The investigation also involves searches of private residences, focusing on 58 suspects who were or are professionally active for the bank.

AML / KYC

Ex-FBI Agent Charged for Money Laundering, Sanctions Violations

27/01/2023

The former FBI agent conspired with a former Russian diplomat to help Oleg Deripaska have his sanctions removed.