Sanctions

AML / KYC

Singapore Company Director Jailed for North Korea Trade

By Editors | 25/11/2019

The Singapore man was reportedly selling luxury goods to a North Korean shop, shipping the goods via Dalian, and receiving payment via front companies in China and Hong Kong.

AML / KYC

Singapore Re-Rated on Four FATF Recommendations

By Editors | 19/11/2019

Singapore is still rated ‘partially compliant’ on three FATF Recommendations for technical compliance, and will remain in enhanced follow-up.

AML / KYC

MAS to ‘Take Another Crack’ at KYC Utility Project

By Editors | 15/11/2019

The KYC Utility project was shelved last year after the setup costs were deemed to be too high. This time, the MAS will look at “less costly” technology architecture.

AML / KYC

Malaysian Banks Force Closures of Iran-linked Accounts

By Editors | 02/11/2019

CIMB and Maybank are two of the largest banks forcing closures of accounts belonging to Iranian companies and individuals, amid new sanctions imposed by the US.

Sanctions

Philippine SEC Proposes New Rules for REITs

By Editors | 10/10/2019

The SEC hopes to develop a viable REIT market to provide funding for infrastructure projects and investment opportunities for local investors.

AML / KYC

APG Publishes Final Mutual Evaluation Report for Taiwan

By Editors | 03/10/2019

Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.

Capital / Liquidity

BSP Enhances Rules on Voluntary Surrender of Banking Licences

By Editors | 24/09/2019

The guidelines are aimed at improving protections for depositors and creditors of banks that have decided to cease operations.

AML / KYC

The Long Arm of the Law

By Eric A. Sohn | 19/08/2019

Eric A. Sohn at Dow Jones Risk & Compliance discusses the US’ ability to restrict a firm’s access to correspondent banking services and its financial markets.

AML / KYC

UN Report: North Korea Still Accessing International Financial System

By Editors | 09/08/2019

The report says North Korea has amassed $2bn from cyberattacks on banks and crypto exchanges, and that it has about 30 overseas representatives helping it evade sanctions.