Financial Crime

Market Abuse

Korea Unveils Proposed Reforms to Strengthen Short Selling System

By Editors | 17/11/2023

Under the proposals, institutional and retail investors will be subject to the same rules, and naked short selling can be penalised with a 10 year market ban.

Anti-Money Laundering

Indian Authorities Probe Aviva for Alleged Tax Evasion – Report

By Ajoy K Das | 17/11/2023

Inspectors from the Directorate General of GST Intelligence seized laptops from Aviva and questioned some of its top officials.

Supervision & Enforcement

EU Reaches Provisional Agreement on Environmental Crime Directive

By Mark Johnston | 17/11/2023

The revised directive replaces the 2008 version, which was found to have a limited effect with sanction levels that were too low.

Anti-Money Laundering

FATF Updates Standards to Address Adverse Outcomes Facing NPOs

By Editors | 17/11/2023

The FATF adopted amendments to Recommendation 8 and its Interpretive Note and updated its best practices paper on combatting TF abuse of NPOs.

Anti-Money Laundering

Pacific Islands to Bolster Sharing of Financial Intelligence

By Editors | 17/11/2023

Pacific Island FIUs met in the Cook Islands this week. It was revealed that AUSTRAC provided the Cook Islands FIU a new data analytics system.

Anti-Money Laundering

MAS Issues Draft Requirements for Data Sharing Through COSMIC

By Manesh Samtani | 17/11/2023

The requirements cover the internal policies FIs must put in place to share information through COSMIC, and the appropriate use and safeguarding of information received.

PEPs & Sanctions

US Sanctions Highlight Russian Influence in Balkans Region

By Editors | 17/11/2023

US government actions targets individuals and entities linked to Russia accused of corruption and destabilising activities in the Balkans.

PEPs & Sanctions

OFAC Sanctions UAE Companies, Vessels for Trading Russian Oil

By Editors | 17/11/2023

Latest OFAC action meant to strengthen enforcement of the G7 oil-price cap as Russia continues to profit from oil exports.

PEPs & Sanctions

US Lifts Export Controls on Chinese Institute as Part of Fentanyl Deal

By Editors | 17/11/2023

The US Commerce Department removed China’s Ministry of Public Security’s Institute of Forensic Science from the Entity List as part of a bilateral effort to regulate the fentanyl trade.