Sanctions

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”.