SANCTIONS

Crypto / Digital Assets

NY Fed Assesses Effectiveness of Tornado Cash Sanctions

By Editors | 11/08/2024

The study found that non-cooperation with the Tornado Cash sanctions was not monetarily driven, but instead motivated by “philosophical reasons”.

Sanctions

US, UK, Canada Announce Coordinated Sanctions Against Belarus

By Editors | 11/08/2024

The sanctions mark the four-year anniversary of the 2020 presidential election in Belarus, which was widely regarded as fraudulent.

Enforcement

US Man Arrested for Facilitating DPRK Remote IT Worker Fraud

By Editors | 10/08/2024

DOJ said Matthew Isaac Knoot enabled North Korean IT workers to work for US and UK companies from locations in China, and laundered money for them.

Sanctions

Russia, China Working on Regulations to Facilitate Barter Trade – Reports

By Editors | 10/08/2024

New regulatory arrangements being put in place are expected to enable barter deals between Russia and China involving agriculture “as soon as this autumn”.

AML / KYC

US, Germany Take Down Illicit Crypto Platform Cryptonator

By Editors | 08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Sanctions

Myanmar Punishes Exporters for Failure to Convert FX to Kyat

By Editors | 05/08/2024

Over 100 companies have had their export licences revoked. Their owners face potential jail time and asset confiscation.

Sanctions

EBA Proposes New Reporting Requirements for Payments Firms

By Editors | 04/08/2024

PSPs would have to report on the share of instant transfers, both domestic and cross-border, that were rejected due to the application of sanctions.

Sanctions

OFAC Sanctions More Houthi Procurement Facilitators

By Editors | 02/08/2024

The sanctions target “key actors” located in China, Hong Kong, and Yemen who have “directly supported” the Houthis’ weapons procurement efforts.

Sanctions

China Adjust Export Controls for Drones and Related Tech

By Editors | 02/08/2024

The measures explicitly ban the export of all civilian drones that are intended for “non-peaceful purposes” such as terrorist and military activities.