ADVERTISEMENT
Sanctions
AML / KYC
US Authorities to Target Those Who Facilitate Sanctions Evasion
By Editors | 06/03/2023
China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.
Sanctions
US Commerce Department Adds 3 Dozen Entities to Trade Blacklist
By Editors | 06/03/2023
Of the 37 companies added to the list, 28 are Chinese entities including those involved in advanced technologies and genetic data collection.
Enforcement
OFAC Penalises Indian Tobacco-maker for Sanctions Violations
By Editors | 06/03/2023
Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.
AML / KYC
New G7 Sanctions Target Russian Financial Services, Evasion Networks
By Manesh Samtani | 27/02/2023
US Treasury says sanctioned actors use smaller banks and wealth management firms to evade sanctions. FATF has suspended Russia’s membership.
AML / KYC
FATF Adds South Africa, Nigeria to Grey List
By Editors | 25/02/2023
The South African Reserve Bank said it has a zero-tolerance approach to abuse of the financial system by money launderers or terrorist financiers.
Crypto / Digital Assets
SFC Consults on New Licensing Regime for Crypto Trading Platforms
By Manesh Samtani | 20/02/2023
The consultation sets out requirements under the new licensing regime, including safeguards for retail investors, travel rule requirements, and maximum penalties for misconduct.
Crypto / Digital Assets
Russia to Launch CBDC Consumer Pilot in April With 13 Banks
By Editors | 20/02/2023
The 13 participating banks have “passed all tests” to confirm their technical readiness to start the pilot with a limited number of clients.
Enforcement
US, UK Sanction Bulgarian Nationals for Corruption Offences
By Editors | 19/02/2023
The UK issued sanctions under its Global Anti-Corruption Sanctions Regime. The US sanctions were imposed under the Magnitsky Act.
Sanctions
China Sanctions US Defence Firms Over Taiwan Weapons Sales
By Editors | 17/02/2023
Lockheed Martin and a unit of Raytheon Technologies were added to China’s “Unreliable Entity List”. The notice requires both to pay fines.
Crypto / Digital Assets
Crypto Crime Rose to Over $20b in 2022: Chainalysis
By Editors | 17/02/2023
Overall, Chainalysis says illicit activity in cryptocurrency remains a small share of total volume at less than 1 percent.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team