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SANCTIONS
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.
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.
Sanctions
Risky Business: Southeast Asia’s Continued Trade with Russia
By Gary Somerville | 03/09/2023
Close associations with Russia’s defence industry expose Southeast Asian countries to sanctions risk, say RUSI’s Gary Somerville and Jack Crawford.
Sanctions
US, Korea, Japan Announce New DRPK Sanctions
By Editors | 01/09/2023
The three countries pledged to continue working together to counter North Korea’s destabilising activities, including weapons development and cyber attacks.
Enforcement
UK Discloses Russia Sanctions Breach by Wise Payments
By Editors | 01/09/2023
The disclosure is meant to act as a form of censure and deterrent, while also providing compliance lessons. No monetary penalty was imposed.
AML / KYC
MAS Issues Additional Guidance on Managing Sanctions Risk
By Manesh Samtani | 31/08/2023
The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.
Sanctions
US, China Open Communication Channels on Export Controls
By Editors | 30/08/2023
US and Chinese officials agreed to establish a new “export control enforcement information exchange” mechanism and a “commercial issues working group”.
AML / KYC
Laos AML/CFT Regime Has “Significant Deficiencies” – FATF
By Manesh Samtani | 30/08/2023
Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.
Sanctions
Russia Considers Decree to Enable Investors to Unblock Assets
By Mark Johnston | 28/08/2023
Under the plan, interested foreign investors would be able to buy Russian assets currently frozen in Europe.
Sanctions
New Zealand Joins US, UK in Sanctions over Treatment of Ukrainian Children
By Editors | 27/08/2023
The New Zealand and US sanctions coincided with Ukrainian Independence Day on 24 August.
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