Sanctions

AML / KYC

Anarchy in the UK’s Sanctions Regime

By Eric A. Sohn | 13/03/2019

In light of the OFSI’s recent fine on Raphaels Bank, Eric Sohn at Dow Jones Risk & Compliance looks at other seemingly outsized penalties, and what they could mean.

AML / KYC

Data Privacy, Cybersecurity, Conduct in Focus in APAC

By Manesh Samtani | 14/02/2019

Data privacy, conduct & culture, cybersecurity and AML will be in focus in APAC for the next three years, according to a new report from Fenergo.

Big Picture

Board, Compliance Engagement Lacking in Technology Adoption

By Manesh Samtani | 07/02/2019

Financial services firms lack engagement from boards and risk and compliance functions, according to a new survey from Thomson Reuters Regulatory Intelligence.

AML / KYC

Wolfsberg Group Publishes New Guidance on Sanctions Screening

By Editors | 29/01/2019

It aims to show where sanctions screening can be an effective part of a wider sanctions compliance programme, where it has limitations, and where a risk based approach is appropriate.

AML / KYC

Human Trafficking and AML: 2019 Could Be a Turning Point for Asian Banks

By Nick Turner | 03/01/2019

Banks will need to adapt existing AML programmes to include new monitoring scenarios and train staff to recognise human trafficking red flags, says Nick Turner at Clifford Chance.

AML / KYC

Hong Kong Not Obliged to Enforce US Sanctions – Report

By Editors | 13/12/2018

Hong Kong is not obliged to enforce unilateral sanctions imposed by individual jurisdictions including the US, a senior official said in regards to Huawei’s alleged dealings with Iran.

AML / KYC

Hong Kong Asked to Bolster Sanctions Enforcement Amid Huawei Dispute

By Manesh Samtani | 11/12/2018

US officials have asked Hong Kong to bolster sanctions enforcement as Huawei’s deputy chairwoman stands accused of violating Iran sanctions through a Hong Kong shell company.

AML / KYC

Overcoming the Challenges of Cross-Jurisdictional Customer Onboarding

By Claus Christensen | 28/11/2018

A digital-first approach to customer onboarding can protect companies from internal delays, customer dissatisfaction, hefty regulatory fines and reputational risk, says Claus Christensen.

AML / KYC

Japan’s MUFG in Ongoing AML Probe by New York Regulators

By Manesh Samtani | 23/11/2018

The probe has been ongoing since late 2017, where MUFG is alleged to have intentionally ignored internal controls meant to prevent it doing business with sanctioned entities.