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AML / KYC
China Sanctions 28 Trump Officials as Biden Takes Office
By Editors | 21/01/2021
The 28 officials and their immediate family members will be barred from entering China, Hong Kong and Macao, and restricted from doing business with China.
AML / KYC
Financial Crime 2021: Digital ID, Due Diligence, Sanctions
By Editors | 21/01/2021
Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.
AML / KYC
UPDATED: Philippine Senate Approves Amendments to AML Law
By Editors | 19/01/2021
The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.
AML / KYC
US Sanctions Six More Chinese, Hong Kong Officials
By Editors | 17/01/2021
The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.
Sanctions
HKMA May Replace State Street as Manager of Tracker Fund
By Editors | 13/01/2021
State Street will no longer be able to buy shares in companies sanctioned by the US, including China Mobile and China Unicom.
AML / KYC
China Issues New Rules to Protect from Foreign Sanctions
By Manesh Samtani | 11/01/2021
Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.
Sanctions
US Banks to Delist Hong Kong Listed Structured Products
By Manesh Samtani | 11/01/2021
The move is said to be a direct result of a prohibition on US persons from purchasing shares in companies identified to be linked to the Chinese military.
AML / KYC
White House Bans US Transactions With Chinese Payment Apps
By Editors | 06/01/2021
White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.
AML / KYC
OFAC Extends Chinese Military Company Ban to Subsidiaries
By Editors | 03/01/2021
In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.
Fintech / Regtech
US Regulators Call for Responsible Stablecoin Design, Operation
By Editors | 31/12/2020
Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.
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