Sanctions

AML / KYC

HKAA Sanctions Impact ‘Relatively Muted’, For Now: IIF

By Manesh Samtani | 29/10/2020

One of the main concerns for Chinese banks is that a loss of access to dollar finance could hamper their ability to lend to corporate customers that rely on USD financing.

AML / KYC

FATF Adopts Measures to Mitigate Proliferation Financing Risk

By Editors | 25/10/2020

The changes are aimed at ensuring FIs and DNFBPs do not unwittingly support or become part of proliferation financing networks or schemes.

AML / KYC

OFAC Settles Iran Sanctions Case with Berkshire Hathaway

By Editors | 20/10/2020

A Berkshire subsidiary knowingly exported cutting tools and related inserts to Turkish distributors to then be shipped to a distributor in Iran for resale to Iranian end-users.

AML / KYC

SoW/SoF Checks: What Does Good Look Like?

By Editors | 18/10/2020

Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.

AML / KYC

APG Releases First Follow-up Report on Pakistan

By Editors | 18/10/2020

The APG says Pakistan has been re-rated from ‘partially compliant’ to ‘compliant’ on Recommendation 29 and has made progress on Recommendation 1.

AML / KYC

HKAA Sanctions Mark Formal Warning to Global Banks

By Manesh Samtani | 15/10/2020

International financial institutions conducting ‘significant transactions’ with the ten sanctioned individuals could face secondary sanctions.

Enforcement

RegTech Asia 2020: Sanctions & PEPs Screening

By Editors | 13/10/2020

What role do data and technology play in protecting financial institutions from exposure to the risks associated with sanctions and PEPs?

AML / KYC

US Imposes Sanctions Against 18 Iranian Banks

By Editors | 11/10/2020

FIs transacting with the sanctioned banks after a 45-day wind-down period may expose themselves to secondary sanctions or be subject to an enforcement action, Treasury said.

AML / KYC

Ransomware Payments May Breach OFAC Regulations

By Sanday Chongo Kabange | 03/10/2020

OFAC makes clear in a new advisory that it may impose civil penalties if ransomware payments are made to sanctioned individuals or entities.