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Sanctions
Sanctions
Gibson Dunn’s David A. Wolber Discusses Compliance Challenges with Sanctions
By Editors | 15/09/2023
David A. Wolber, Of Counsel at Gibson Dunn, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how Singaporean banks and companies face increasing compliance challenges in the sanctions space, citing a couple of reasons. He also outlined steps to avoid violating sanctions.
Sanctions
US Government Unveils 150 New Russia-related Sanctions
By Editors | 15/09/2023
The sanctions include two more Russia-based banks along with several Russia-based wealth management consulting, auditing, and investment firms.
Sanctions
US to Tighten Foreign Investment Scrutiny Amid China Concerns
By Mark Johnston | 15/09/2023
CFIUS will increase its compliance checks, questions, and site-visits, and hire more third-party auditors to identify deals that could impact national security.
Sanctions
EU Imposes Human Rights Sanctions Against Russian Judges, Prosecutors
By Editors | 13/09/2023
The EU Council said Russia’s judiciary is “not independent” and is “used to systematically and severely violate the human rights of individuals opposed to the ruling regime”.
Sanctions
FinCEN Sheds Light on Cases of Export Control Evasion
By Editors | 11/09/2023
SAR filings reveal that a network of China- and Hong Kong-based entities may be providing support to Russia’s military and/or defense industrial base.
Sanctions
EU Issues New Guidance on Preventing Sanctions Circumvention
By Editors | 11/09/2023
If sanctioned items are exported to third countries and then re-exported to Russia, the underlying due diligence inadequacies will be considered sanctions law violations.
AML / KYC
No Place to Hide: US Court Upholds Sanctions on Decentralised Crypto Platform
By James Gillespie | 11/09/2023
RUSI’s James Gillespie discusses what the Tornado Cash case means for holding DeFi platforms accountable under AML and sanctions laws.
Sanctions
HSBC to Halt Russia, Belarus Payments for Corporate Clients – Reports
By Editors | 11/09/2023
HSBC reportedly told customers that the sanctions and trade restrictions imposed on Russia and Belarus have made it “increasingly challenging” to operate.
Enforcement
US, UK Jointly Sanction Trickbot Ransomware Actors
By Editors | 08/09/2023
The US and UK sanctioned 11 members of the Russia-based cybercrime gang. The DOJ unsealed indictments against 9 individuals, including 7 of the sanctions targets.
AML / KYC
UK to Designate Wagner Group as Terrorist Organisation
By Sanday Chongo Kabange | 07/09/2023
The draft order to proscribe Wagner Group is expected to pass in Parliament and come into force on 13 September.
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