Financial Crime

PEPs & Sanctions

EU Sanctions Package Delayed Over Verification Rule

By Editors | 16/06/2024

Germany fears that its exporters could be impacted by requirements to verify that customers are not transshipping goods to Russia.

PEPs & Sanctions

Indian Banks Calls on Government to Set Up “OFAC Cell”

By Editors | 16/06/2024

Bankers say an “OFAC cell” created within the DFS could help them minimise the risks of sanctions non-compliance.

Anti-Bribery & Corruption

MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’

By Editors | 16/06/2024

Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.

PEPs & Sanctions

US Sanctions Israeli Group for Blocking Humanitarian Aid

By Editors | 16/06/2024

Last month, the group’s members “looted and then set fire to two trucks” carrying humanitarian aid destined for Gaza.

PEPs & Sanctions

US, Türkiye Issue Joint Sanctions on ISIS Supporters

By Editors | 15/06/2024

The US sanctions, coordinated with the Turkish government, target supporters of a human smuggling gang linked to ISIS.

Anti-Money Laundering

Japan Regulator Issues Orders Against Crypto Firm CoinBest

By Editors | 15/06/2024

CoinBest’s IEO operations are suspended and the company is required to make improvements to its management, internal control and AML/CFT systems.

Anti-Money Laundering

US Repatriates Additional $156mn in 1MDB Funds to Malaysia

By Nithya Subramanian | 15/06/2024

To date, the US DOJ has repatriated to Malaysia a total of $1.4bn that was misappropriated from 1MDB.

Conduct, Culture & Accountability

Japan FSA Considers Penalties for MUFG Entities

By Editors | 15/06/2024

Japan’s SESC has formally recommended penalties for three MUFG units for unauthorised sharing of client information.

PEPs & Sanctions

Japan Considers Sanctions Against Chinese, Indian Firms

By Editors | 15/06/2024

Japan is considering imposing sanctions against entities in China, India, UAE, Uzbekistan, and Kazakhstan.