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Financial Crime
Market Abuse
SFC Bars Former Securities Exec Over Secret Trading Account
By Sanday Chongo Kabange | 27/06/2024
The former chief operations officer of DA International Financial Service violated the company’s employee dealing policy.
Anti-Money Laundering
Vietnam Made “Minimal Progress” to Address AML Deficiencies
By Manesh Samtani | 27/06/2024
Vietnam was upgraded on just one recommendation for strengthening its correspondent banking requirements. The country is moved to enhanced follow-up.
PEPs & Sanctions
OFAC Fines Italian Animation Company for Sanctions Violations
By Editors | 27/06/2024
Mondo TV made wire transfers via US financial institutions to an animation studio owned by the North Korean government.
Anti-Money Laundering
Singapore’s National Asset Recovery Strategy To Enhance AML Regime
By Nithya Subramanian | 27/06/2024
The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.
Anti-Money Laundering
New AMLA to Receive EBA’s AML/CFT Powers by End 2025
By Editors | 27/06/2024
The EBA said it will transfer its AML/CFT powers and mandates to the AMLA by the end of December 2025.
AI Risk & Governance
BIS Urges Central Banks to Keep Pace with AI
By Nithya Subramanian | 27/06/2024
In the financial sector, AI can improve efficiencies and lower costs for payments, lending, insurance and asset management, the BIS said.
Capital Adequacy
CFTC Approves Four Comparability Determinations for Foreign Jurisdictions
By Editors | 26/06/2024
Certain swap dealers in Japan, Mexico, the EU, and UK can satisfy certain US capital and financial reporting requirements by complying with home country rules.
PEPs & Sanctions
Canada Imposes Additional Sanctions Targeting Hamas
By Editors | 26/06/2024
The sanctions target nine individuals and two entities that facilitated, supported, and provided funding for the Hamas attacks on Israel last October.
PEPs & Sanctions
OFAC Targets Iranian ‘Shadow Banking’ Network With Sanctions
By Editors | 26/06/2024
The sanctions target 25 companies based in Hong Kong, 13 in UAE, five in Iran, and one each in Türkiye and Marshall Islands.
Cryptocurrency
Korea Approves Enforcement Decree for New Virtual Assets Law
By Sanday Chongo Kabange | 26/06/2024
The enforcement decree mandates requirements on the safe storage of virtual assets and regulates unfair trading activities.
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