Anti-Money Laundering

PEPs & Sanctions

US Jury Convicts Two Individuals for Attempting to Export Iranian Oil to China

By Editors | 23/11/2023

The individuals were accused of conspiring to violate US sanctions through a scheme to sell Iranian-origin petroleum to a Chinese buyer via shell companies.

PEPs & Sanctions

FinCEN Hosts US Banks for Discussion on Russian Export Controls Evasion

By Editors | 23/11/2023

Readout from FinCEN forum includes a list of guidance documents to help financial institutions detect and report transactions related to suspected export controls evasion.

Anti-Money Laundering

AUSTRAC Accepts Enforceable Undertaking from Perth Mint

By Sanday Chongo Kabange | 23/11/2023

The enforceable undertaking binds Gold Corporation to completing its AML/CTF remediation programme by 30 April 2025.

Anti-Money Laundering

FATF, OECD Spotlight Vulnerabilities of Investment Migration Programmes

By Manesh Samtani | 23/11/2023

The report proposes mitigation measures to address the risks and vulnerabilities associated with investment migration programmes.

Anti-Money Laundering

SFC Fines Lion Futures for AML Non-Compliance

By Sanday Chongo Kabange | 23/11/2023

Lion Futures is the 7th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

Cryptocurrency

Crypto Firm Bittrex Global Announces Decision to Cease Operations

By Sanday Chongo Kabange | 22/11/2023

While Bittrex Global did not specify a reason for the decision, regulatory uncertainty is seen as the biggest factor.

Anti-Money Laundering

US Authorities Secure Multi-Billion Dollar Settlement from Binance

By Editors | 21/11/2023

Binance CEO Changpeng Zhao stepped down as part of the settlement with DOJ, FinCEN, OFAC and CFTC. SEC case not mentioned.

Anti-Money Laundering

FATF Revises Standards to Improve Asset Recovery Outcomes

By Manesh Samtani | 19/11/2023

FATF has revised its Recommendations and published a new report to promote the use of Asset Recovery Inter-Agency Networks, or ARINs.

Cryptocurrency

Korea: Major Political Party to Require Candidates to Disclose Crypto Holdings

By Editors | 18/11/2023

Information on prospective candidates’ crypto holdings will be made available to the public on an online platform ahead of Korea’s 2024 general election.