Sanctions

    image

    Enforcement

    Fed, OFAC Penalise Wells Fargo for Sanctions Non-Compliance

    By Editors | 02/04/2023

    Wells Fargo’s predecessor, Wachovia, provided software that was used by a foreign bank to process USD 532 million in prohibited transactions.

    image

    AML / KYC

    Germany to Establish New Agency to Fight Financial Crime

    By Sanday Chongo Kabange | 02/04/2023

    The ‘Federal Authority for Fighting Financial Crime” will absorb the functions of the FIU and also be responsible for enforcing international sanctions.

    image

    Market Infrastructure

    ASEAN to Reduce Reliance on Major Currencies to Safeguard Stability

    By Editors | 02/04/2023

    ASEAN finance ministers and central bank governors agreed to increase usage of local currencies for trade settlements.

    image

    AML / KYC

    UK Unveils New Plan to Tackle Economic Crime

    By Sanday Chongo Kabange | 31/03/2023

    The plan involves hiring 475 specialist investigators, investing in technology and data analytics, and establishing a new multi-agency crypto cell.

    image

    AML / KYC

    EU Lawmakers Agree New AML/CFT Rules

    By Editors | 29/03/2023

    Members of the European Parliament approved draft AML/CFT legislation, including plans for the new Anti-Money Laundering Authority.

    image

    AML / KYC

    CFTC Alleges Binance is Operating in the US Illegally

    By Editors | 28/03/2023

    The CFTC says Binance’s US activities were subject to registration and regulatory requirements but that key executives deliberately disregarded these requirements.

    image

    Sanctions

    OFAC Adds More Belarus Officials to Sanctions List

    By Editors | 27/03/2023

    The sanctions target Alexander Lukashenko’s presidential aircraft, two major automotive manufacturers, and election officials.

    image

    Sanctions

    New US Sanctions Target Myanmar Jet Fuel Supplies

    By Editors | 27/03/2023

    OFAC published an alert explaining the sanctions risks associated with providing jet fuel to Myanmar’s military regime.

    image

    Sanctions

    US, UK, EU and Australia Target Iran With New Sanctions

    By Editors | 22/03/2023

    The sanctions were imposed for human rights abuses and violations as well as the production and supply of drones to Russia.

    image

    AML / KYC

    South Korea Issues Another Set of DPRK Sanctions

    By Manesh Samtani | 22/03/2023

    The sanctions were imposed in the absence of a working multilateral mechanism to respond to its North Korea’s latest ICBM launch.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team