AML / KYC

AML / KYC

New US Sanctions Target Network Procuring Tech for Russia

By Editors | 15/11/2022

OFAC sanctions target microelectronics supply network. European Commission issues new FAQs. Canada targets 23 Russian individuals.

AML / KYC

UK OFSI Has Frozen Over $21b of Russian Linked Assets

By Editors | 13/11/2022

Russia has overtaken Libya and Iran to become the UK’s most-sanctioned nation, the OFSI said in its annual review.

AML / KYC

ACCC Calls for Laws Requiring Digital Platforms to Stop Scams

By Editors | 13/11/2022

The ACCC says consumer and competition harms across a range of digital platform services are “widespread, entrenched, and systemic”.

AML / KYC

LME Decides Against Banning Russian Metals from Warehouses

By Editors | 13/11/2022

The LME received feedback that a “material portion” of the market is still planning to buy Russian metal in 2023.

AML / KYC

US Officials Asks Banks Maintain Services for Some Russian Firms

By Editors | 12/11/2022

The effort is said to be aimed at reducing the negative effects of Russia-targeting sanctions on the global economy.

Enforcement

DFSA Fines Bank of Singapore for Inadequate AML Controls

By Editors | 11/11/2022

Bank of Singapore offered the DFSA an enforceable undertaking agreeing to remediate deficiencies and engage an external compliance expert for verification.

AML / KYC

BSP Proposes Draft Regulations on TFS Implementation

By Editors | 10/11/2022

The amendments target terrorist and proliferation financing and are aimed at helping the Philippines secure its removal from the FATF grey list.

Crypto / Digital Assets

OFAC Redesignated Tornado Cash to Link to DPRK WMD Programme

By Editors | 10/11/2022

The August designation did not connect Tornado Cash to North Korea’s nuclear programme.

AML / KYC

AML in Japan: Looking Back to Look Forward

By Hiroshi Ozaki | 09/11/2022

The FSA’s Hiroshi Ozaki and Daisuke Mamba look back at the last four and a half years in the fight against money laundering and terrorist financing in Japan.