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Sanctions
US Adds Chinese Chipmakers, AI Firms to Trade Blacklist
By Editors | 19/12/2022
The move builds on new export controls announced in October, which were designed to prevent the transfer of advanced technology to China’s military, intelligence and security services.
AML / KYC
FinCEN Proposes Rules on Access to Beneficial Ownership Information
By Editors | 18/12/2022
The proposed rule also sets out requirements for institutions to have systems and controls to securely store beneficial ownership information and limit its access.
Sanctions
New Russia, Iran Sanctions Imposed Over Drone Use in Ukraine
By Mark Johnston | 16/12/2022
The UK, EU and New Zealand has announced new sanctions against Iranian individuals and entities over the supply of drones to Russia.
AML / KYC
AUSTRAC Releases First Proliferation Financing Risk Assessment
By Manesh Samtani | 15/12/2022
Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.
Enforcement
Singapore Jails Man for Exporting Beverages to North Korea
By Editors | 14/12/2022
The man, while working as a manager for Pokka International, sold beverages he knew would later be exported to North Korea for commercial trade.
Sanctions
China Files WTO Complaint Over Semiconductor Export Controls
By Editors | 14/12/2022
China is separately working on a CNY 1 trillion support package to expand domestic semiconductor production and research activities.
Sanctions
EU Commission Proposes Ninth Russia Sanctions Package
By Editors | 12/12/2022
The package covers almost 200 individuals and entities, including three more Russian banks. More export controls, mining investments, and Russian TV channels also targeted.
Enforcement
US Sanctions Nasdaq Listed Company, Other ‘Corrupt’ Actors
By Manesh Samtani | 12/12/2022
The sanctions were connected to illegal fishing. The US, UK and Australia also sanctioned dozens of others in recognition of International Anti-Corruption Day and Human Rights Day.
AML / KYC
Korea FSS Directs Shinhan Bank to Bolster Crypto AML Systems
By Editors | 08/12/2022
The recommendations follow bank inspections that were launched in response to suspicious FX transactions used by customers to exploit the so-called “kimchi premium”.
AML / KYC
Japan Lawmakers Approve Revisions to Anti Financial Crime Laws
By Editors | 07/12/2022
The revisions will allow Japanese authorities to criminally punish crypto firms that do not comply with the Travel Rule.
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