SANCTIONS

AML / KYC

Myanmar Charges Tycoon Over Use of Scam Centre Proceeds

By Editors | 18/08/2024

The former executive chair of privately owned Yoma Bank allegedly used criminal proceeds from online scam centres to invest in a real estate project.

Enforcement

US Man Arrested Over Attempts to Export Aircraft Components to Iran

By Editors | 17/08/2024

Jeffrey Chance Nader falsely identified himself to suppliers as the end user of the components, which he attempted to export to the UAE for transshipment to Iran.

Sanctions

OFAC Unveils Fresh Sanctions Against Iranian Shipping Network

By Editors | 16/08/2024

The sanctions target companies based in the Marshall Islands, the UAE, Malaysia and Hong Kong, along with several vessels, for helping to generate revenue for the Houthis.

Sanctions

Russian Central Bank Cancels Banking Licence of Amex Unit

By Manesh Samtani | 16/08/2024

American Express was given approval to liquidate its Russian business in May, two years after it suspended operations in the country.

Sanctions

US to Remove Chinese Laser Sensor Maker from Blacklist

By Editors | 14/08/2024

The Department of Defence has reportedly decided to remove Hesai Technology Co Ltd from its blacklist of Chinese military-affiliated companies.

Sanctions

USD, EUR Banknotes Being Shipped to Russia Despite Sanctions – Report

By Editors | 14/08/2024

Russia has managed to circumvent sanctions blocking cash imports by arranging transport from countries including the UAE and Turkey.

AML / KYC

Bulgarian Man Extradited to US Over Illegal Exports to Russia

By Editors | 14/08/2024

Milan Dimitrov conspired with two others to use a Bulgarian company to receive export-controlled items from the US and transship them to Russia.

AML / KYC

US Fed Imposes Conditions on Customers Bank for AML Deficiencies

By Manesh Samtani | 12/08/2024

The Fed cited risk management deficiencies relating to an instant payments platform used to enable crypto firms to make around-the-clock US dollar payments.

Sanctions

JPMorgan Requests Dismissal of NY Lawsuit Against Russia’s VTB

By Editors | 12/08/2024

JPMorgan said it is seeking to dismiss the lawsuit “against its will” because it faces uncertain risks if it violates an injunction issued by a Russian court.