AML / KYC

SGX Issues Directions to Listed Issuers on Sanctions Compliance

08/03/2022

Gazprom’s GDR listing on SGX has been suspended. Issuers are directed to suspend trading if they are subject to sanctions or engaging in sanctioned business dealings with Russia.

AML / KYC

New Zealand to Pass Russia Sanctions Bill This Week

08/03/2022

The bill will pass “under urgency” this week, to provide further, extensive sanctions on Russia and individuals and companies connected to the Russian government.

AML / KYC

Russia Lays Out Three Exit Options for Foreign Firms

07/03/2022

One option is for foreign shareholders to transfer their shares to be managed by Russian partners until they return to the market at a later date.

AML / KYC

Singapore Sanctions Four Russian Banks, Imposes Other Restrictions

06/03/2022

FIs that have relationships with the four banks must freeze their assets. DPT service providers are prohibited from facilitating sanctions evasion with crypto and NFTs.

AML / KYC

FATF Plenary Finalises New Beneficial Ownership Requirements

06/03/2022

Plenary adopts amendments to Recommendation 24, approves revised methodology for mutual evaluations, publishes draft guidance for real estate sector.

AML / KYC

GCFFC Offers Recommendations on Improving FATF Mutual Evaluations

03/03/2022

Mutual evaluations also do not adequately take into account threat, materiality, and contextual factors. The FATF should promote the use of PPPs and data sharing.

AML / KYC

SWIFT Ban Spares Russian Banks Facilitating EU Energy Trade

03/03/2022

Sberbank and Gazprombank not included in ban; Global banks demonstrating “extreme caution”; Crypto exchanges under pressure to Russia-linked transactions.

AML / KYC

Russia SWIFT Ban Still Being Finalised; China Urges Dialogue

02/03/2022

Seven Russian banks will likely be cut off from SWIFT; Japan will freeze Russia’s yen reserves; Korea will suspend transactions with seven Russian banks and their subsidiaries.

AML / KYC

MAS Issues New AML/CFT Notices for Financial Institutions

02/03/2022

The Notices cover activities involving precious stones and metals, services and transactions involving digital payment tokens, and risk assessments on shell companies.