Sanctions

Fintech / Regtech

G7 Ministers to Endorse Guiding Principles for CBDC – Report

By Editors | 13/10/2021

The principles call for appropriate regulation and oversight, rigorous privacy and data protection standards, and safeguards to prevent fraud and sanctions evasion.

Enforcement

FATF Re-rates China on Six Recommendations

By Manesh Samtani | 10/10/2021

The FATF acknowledges work underway to revise China’s AML laws to bring DNFBPs into scope and set a foundation for a new beneficial ownership regime.

AML / KYC

SWIFT Publishes Guidelines for Screening ISO 20022 Messages

By Editors | 06/10/2021

Richer data in ISO 20022 messages allow financial institutions to potentially reduce false positives in sanctions screening, SWIFT says.

Sanctions

Evergrande Poses No Threat to Hong Kong Stability: Paul Chan

By Sanday Chongo Kabange | 05/10/2021

Evergrande accounts for just 0.05 percent of local banking assets. Trading in the company’s shares was suspended on Monday ahead of a major announcement.

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

By Editors | 27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

By Editors | 21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.

AML / KYC

DPRK ‘Launders’ Vessel Identities to Evade Sanctions: C4ADS

By Editors | 15/09/2021

C4ADS says fraudulent ship registrations created with the IMO are being used to ‘launder’ the identity of vessels associated with illicit activities.

AML / KYC

Philippine SEC Disseminates Guidance on Targeted Financial Sanctions

By Editors | 12/09/2021

The guidance now covers targeted financial sanctions related to terrorism, terrorism financing, and proliferation financing, including remedies and relevant UNSC links.

AML / KYC

OFAC Fines Bank of China UK for Sudan Sanctions Breach

By Editors | 01/09/2021

BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.