Sanctions

AML / KYC

Singapore Court Fines Secretary Over North Korea Shipments

By Editors | 22/07/2020

The secretary pleaded guilty to three charges under the United Nations Act involving the shipment of luxury items to North Korea for her employer.

AML / KYC

Hong Kong Wealth Managers Scrutinise Clients for Political Links

By Editors | 22/07/2020

Wealth managers are said to be screening comments made by clients and their associates in public, in the media, and in social media posts as far back as 2014 to determine their political stance.

Market Infrastructure

Hong Kong Regulators Offer Assurances on National Security Law

By Editors | 19/07/2020

Financial Secretary Paul Chan has asked Hong Kong financial regulators to explain to their stakeholders that the national security law will not harm their operations.

AML / KYC

Trump Executive Order Opens China to Sanctions Over Hong Kong

By Manesh Samtani | 15/07/2020

Trump has signed an executive order threatening sanctions against Chinese officials and the banks they deal with over the national security law imposed in Hong Kong.

AML / KYC

China Imposes Retaliatory Sanctions Against US Officials

By Editors | 13/07/2020

The US President said that a phase two trade deal with China isn’t under consideration, though China has continued to meet its commitments under the phase one deal signed in January.

AML / KYC

US Sanctions Chinese Officials Over Uyghur Human Rights

By Editors | 12/07/2020

US persons and financial institutions are prohibited from conducting financial transactions with any of the four designated individuals.

AML / KYC

Chinese Banks Plan for Possible US Sanctions – Report

By Editors | 09/07/2020

Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.

AML / KYC

UK Imposes First Sanctions Over Human Rights Abuses

By Editors | 07/07/2020

The UK has designated 25 Russians, 20 Saudi Arabians, two Myanmar generals, and two North Korean organisations. Their UK assets will be frozen.

AML / KYC

Global Banks Seek Clarity on ‘Hong Kong Autonomy Act’

By Editors | 05/07/2020

Under the legislation, banks can be penalised for conducting a ‘significant transaction’ with Chinese individuals or entities named as having contributed to the erosion of Hong Kong’s autonomy.