Sanctions

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    Sanctions

    EU Imposes Human Rights Sanctions Against Russian Judges, Prosecutors

    By Editors | 13/09/2023

    The EU Council said Russia’s judiciary is “not independent” and is “used to systematically and severely violate the human rights of individuals opposed to the ruling regime”.

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    Sanctions

    FinCEN Sheds Light on Cases of Export Control Evasion

    By Editors | 11/09/2023

    SAR filings reveal that a network of China- and Hong Kong-based entities may be providing support to Russia’s military and/or defense industrial base.

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    Sanctions

    EU Issues New Guidance on Preventing Sanctions Circumvention

    By Editors | 11/09/2023

    If sanctioned items are exported to third countries and then re-exported to Russia, the underlying due diligence inadequacies will be considered sanctions law violations.

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    AML / KYC

    No Place to Hide: US Court Upholds Sanctions on Decentralised Crypto Platform

    By James Gillespie | 11/09/2023

    RUSI’s James Gillespie discusses what the Tornado Cash case means for holding DeFi platforms accountable under AML and sanctions laws.

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    Sanctions

    HSBC to Halt Russia, Belarus Payments for Corporate Clients – Reports

    By Editors | 11/09/2023

    HSBC reportedly told customers that the sanctions and trade restrictions imposed on Russia and Belarus have made it “increasingly challenging” to operate.

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    Enforcement

    US, UK Jointly Sanction Trickbot Ransomware Actors

    By Editors | 08/09/2023

    The US and UK sanctioned 11 members of the Russia-based cybercrime gang. The DOJ unsealed indictments against 9 individuals, including 7 of the sanctions targets.

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    AML / KYC

    UK to Designate Wagner Group as Terrorist Organisation

    By Sanday Chongo Kabange | 07/09/2023

    The draft order to proscribe Wagner Group is expected to pass in Parliament and come into force on 13 September.

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    Sanctions

    FCA Unveils Findings from Sanctions System Testing in Financial Sector

    By Manesh Samtani | 07/09/2023

    The FCA used a “new analytics-based tool” developed in-house that tests how effective firms are at identifying sanctioned individuals and entities.

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    Sanctions

    Bangladesh Banks Directed to Stop Transacting With Myanmar State Banks

    By Editors | 07/09/2023

    Citing US sanctions, Bangladesh Bank instructed banks to stop transacting with Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank.

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    Sanctions

    China to Launch New State Investment Fund for Chip Sector

    By Editors | 06/09/2023

    The new fund will have a fundraising target of CNY 300 billion, a fifth of which will come from the Ministry of Finance.

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