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SANCTIONS
AML / KYC
UOB to Tighten Restrictions on Myanmar Business from 1 September
By Mark Johnston | 10/08/2023
UOB will restrict payments to and from Myanmar accounts, card transactions for Myanmar individuals and banks, and close Myanmar banks’ nostro accounts.
Sanctions
US Treasury Clarifies Stance on Humanitarian Aid to Syria under Sanctions
By Editors | 09/08/2023
The guidance is the latest in a series of OFAC actions aimed at clarifying the US government’s stance on humanitarian trade.
Sanctions
UK Targets Third Country Military Suppliers With Sanctions
By Editors | 09/08/2023
The sanctions target individuals and businesses in Iran, Turkey, Belarus, Slovakia, Switzerland, the UAE and Russia for supporting the war in Ukraine.
Sanctions
OFAC Halts $26m in Funds Tied to Indian Diamond Traders
By Editors | 08/08/2023
OFAC reportedly suspects fund transfers were made to diamond suppliers with links to Russian miners and sanctioned bodies.
Crypto / Digital Assets
Lazarus Group Shuffles $8.5m of Stolen Crypto Across Blockchains
By Editors | 04/08/2023
The hacker group is again in the spotlight, after analysts observed the group moving approximately $8.5mn in stolen crypto across multiple blockchains.
AML / KYC
US SEC Flags Deficiencies in Broker Dealer AML Programmes
By Editors | 03/08/2023
Some broker dealers had deficiencies in independent testing, staff training, customer identification and due diligence practices.
Sanctions
RBI Approves 34 Russian Vostro Accounts at Indian Banks
By Editors | 03/08/2023
Special Rupee Vostro Accounts were opened by Russian banks at 14 Indian commercial banks, based on guidelines issued by the RBI in July 2022.
Sanctions
EU Imposes New Russian Sanctions Targeting ‘Information Manipulation’
By Editors | 31/07/2023
Seven Russian individuals and five entities were sanctioned for conducting a digital information manipulation campaign.
Sanctions
Helsinki Commission Calls for Sanctions Against Swiss Nationals
By Editors | 31/07/2023
Three Swiss nationals allegedly received bribes to release frozen funds linked to Russian officials implicated in the 2009 murder of Sergei Magnitsky.
AML / KYC
US Agencies Call on Firms to Self-Disclose Sanctions Violations
By Editors | 27/07/2023
Self-reporting of sanctions and export controls violations make companies potentially eligible for “significant mitigation”.
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