Sanctions

AML / KYC

Gaming Out Sanctions Risk

By Eric A. Sohn | 27/09/2020

Sanctions specialist Eric Sohn explains how wargaming exercises can be used as a risk management tool to game out threats and enhance strategic planning.

AML / KYC

Pakistan Passes Three More FATF-related Bills

By Editors | 22/09/2020

A joint parliamentary session was convened after the three bills were rejected by the Senate last month. FATF is set to assess Pakistan’s progress next month.

AML / KYC

US Imposes Sanctions on 27 Iranian Entities, Individuals

By Editors | 22/09/2020

Any foreign FI that knowingly facilitates a significant transaction for the designated individuals or entities could be subject to US sanctions.

AML / KYC

Cambodia, China Reject US Sanctions Against Chinese SOE

By Editors | 20/09/2020

OFAC alleges that Chinese state-owned company Union Development Group seized land from locals for development through a corrupt Cambodian general.

AML / KYC

DOJ Charges Three for North Korea Sanctions Breaches

By Sanday Chongo Kabange | 15/09/2020

Two North Koreans and one Malaysian allegedly used front companies to deceive US banks into processing transactions for North Korean customers.

AML / KYC

FATF Details Virtual Asset Red Flags for Detecting Criminal Activity

By Editors | 15/09/2020

This report will help VASPs, FIs, DNFBPs, and other reporting entities detect and report suspicious transactions, and national authorities detect criminal activity.

AML / KYC

OFAC Settles Deutsche Bank Trust Sanctions Violations

By Editors | 13/09/2020

The settlement covers a large payment linked to a designated oil company and 61 payments made to a sanctioned bank in 2015.

AML / KYC

Hong Kong Financial Firms Step Up Compliance Hiring – Report

By Editors | 07/09/2020

The demand for compliance staff has reportedly risen by a third in the past few months. Lawyers with sanctions expertise are in particularly high demand.

AML / KYC

BNM Issues Guidance Documents on AML/CFT Obligations

By Editors | 02/09/2020

Guidance is provided for financial institutions, DNFBPs and NBFIs on AML/CFT and targeted financial sanctions, customer due diligence and beneficial ownership.