Sanctions

    AML / KYC

    UPDATED – US Federal Judge Lifts Investment Ban Against Xiaomi

    By Manesh Samtani | 17/03/2021

    The judge said there was no evidence of Xiaomi sharing information with the Chinese government, and that the ban deprived the company of its right to due process.

    Market Infrastructure

    SWIFT to Launch Enhanced Platform in November 2022

    By Editors | 14/03/2021

    The first release of the enhanced platform will go live in November 2022, supporting MT messaging and ISO 20022, while also allowing connections via APIs.

    AML / KYC

    Addressing Financial Crime Through Data-driven Compliance

    By Heather Lee | 13/03/2021

    Given the rapid growth of digital technologies in financial services, the most effective way to defeat financial criminals today is to ‘follow the data’, says SWIFT’s Heather Lee.

    AML / KYC

    OFAC Sanctions Adult Children of Myanmar Military Leader

    By Editors | 11/03/2021

    The two adult children of the commander-in-chief of Myanmar’s military, Min Aung Hlaing, and six of their companies, have been designated by OFAC.

    Sanctions

    Myanmar Banks Fail to Resume Operations Despite CBM Order

    By Ranamita Chakraborty | 11/03/2021

    The banking sector is not fully operational due to staff shortages as employees take part in nationwide protests against the military government.

    AML / KYC

    China to Bolster Legal Defences Against Foreign Sanctions

    By Editors | 09/03/2021

    China plans to accelerate legislation designed to guard against foreign sanctions, interference and long-arm jurisdiction, a top lawmaker has said.

    AML / KYC

    Singapore Banks Asked to Monitor Myanmar Fund Flows

    By Manesh Samtani | 05/03/2021

    MAS is concerned about financial crime risk. New cash withdrawal limits have been imposed in Myanmar. A military-owned bank has suspended operations.

    AML / KYC

    FATF Releases Draft Guidance on Proliferation Financing Risk

    By Manesh Samtani | 02/03/2021

    The FATF is seeking feedback on the guidance from financial institutions and DNFBPs and will revise the text ahead of June 2021 discussions.

    AML / KYC

    Huawei Launches Hong Kong Court Proceedings Against HSBC

    By Editors | 02/03/2021

    Huawei is seeking internal HSBC documents it says will help it defend against its CFO Meng Wanzhou’s extradiction to the US to face bank and wire fraud charges.

    Sanctions

    NYSE Announces Decision to Delist Chinese Oil Major CNOOC

    By Editors | 01/03/2021

    The decision was made in light of Executive Order 13959, which was signed in November, and updated guidance provided by OFAC in January.

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