Sanctions

AML / KYC

Addressing Heightened KYC Risk with Data and Automation

By Editors | 07/06/2020

Managing KYC risk assessment in a sea of increasingly complex data sets calls for smart automated solutions to manage alerts.

Market Infrastructure

Trump: US to End Hong Kong Trade Privileges, Sanction Chinese Officials

By Manesh Samtani | 30/05/2020

The US President says Hong Kong’s special treatment will be revoked, Hong Kong and Chinese officials will be sanctioned, and Chinese companies listed on US exchanges will be examined.

Market Infrastructure

China Approves Plan to Impose National Security Law in Hong Kong

By Manesh Samtani | 28/05/2020

The move could impact Hong Kong’s special trade status under US law, lead to sanctions against officials, and trigger a downgrade of the city’s credit rating.

AML / KYC

Humanitarian Trade with North Korea: A Matter of Trust

By Eric A. Sohn | 28/05/2020

Eric A. Sohn at Dow Jones Risk & Compliance discusses what is needed for the US to agree to a mechanism for humanitarian trade with North Korea.

Market Infrastructure

US State Dept Declares Hong Kong No Longer Autonomous

By Manesh Samtani | 27/05/2020

The move puts at risk the special status under US law Hong Kong has enjoyed since 1992, jeopardising billions of dollars worth of trade and investment.

AML / KYC

DPRK Cyber Crime Group Increasingly Active in S Korea

By Editors | 18/05/2020

The primary targets of the cyberattacks are cryptocurrency traders, exchanges and others who work in the field, according to cyber security firm ESTsecurity.

AML / KYC

Westpac Files Defence in Federal Court on its AML/CTF Failures

By Editors | 16/05/2020

While Westpac made a number of admissions regarding AUSTRAC’s claims, the bank said the majority of its international money transfers were correctly reported.

AML / KYC

US Prosecutors Target Foreign Bank Records in North Korean Cyber Hunt

By Nick Turner | 05/05/2020

US authorities may be signalling their intent to increasingly use the PATRIOT Act to gain access to foreign bank records in DPRK sanctions investigations, says Nick Turner at Steptoe & Johnson.

AML / KYC

Singapore’s Financial Industry’s Role in Preventing Sanctions Evasion

By Jamil Ahmed | 23/04/2020

Given its geographical location and reputation as a major finance and trading hub, Singapore firms need to take extra care to avoid implicating themselves in sanctioned transactions.