Sanctions

Crypto / Digital Assets

OFAC Redesignated Tornado Cash to Link to DPRK WMD Programme

By Editors | 10/11/2022

The August designation did not connect Tornado Cash to North Korea’s nuclear programme.

AML / KYC

AML in Japan: Looking Back to Look Forward

By Hiroshi Ozaki | 09/11/2022

The FSA’s Hiroshi Ozaki and Daisuke Mamba look back at the last four and a half years in the fight against money laundering and terrorist financing in Japan.

AML / KYC

AUSTRAC Issues Updated Guidance on Due Diligence Obligations

By Editors | 04/11/2022

The first guidance document covers enhanced customer due diligence procedures. The second covers the measures for screening employees and training them on ML/TF risks.

Fintech / Regtech

EU Commission Proposes New Rules on Instant Payments

By Manesh Samtani | 30/10/2022

Banks would be required to offer instant payments at the same cost as other credit transfers. Instant euro payments may later be expanded internationally.

Enforcement

HKEX Issues New Guidance Note, Revises Sanctions Statement

By Sanday Chongo Kabange | 27/10/2022

Parties are expected to cooperate with HKEX during its investigations and disciplinary actions, the new Guidance Note on Cooperation says.

AML / KYC

RBI Grants First Vostro Approvals to Russian Banks

By Editors | 26/10/2022

Sberbank and VTB Bank have been granted approval to open vostro accounts in India to settle rupee trade transactions.

AML / KYC

Sri Lanka Will Not Adopt Russia’s Mir Card Scheme

By Editors | 23/10/2022

The CBSL said it is not in a position to consider Russia’s request to operate the Mir card scheme in Sri Lanka, due to US sanctions.

AML / KYC

FATF Blacklists Myanmar, Sidelines Russia, De-lists Pakistan

By Manesh Samtani | 23/10/2022

Myanmar is on the FATF “blacklist” alongside Iran and North Korea. Pakistan was removed from the “grey list”.

Crypto / Digital Assets

Japan Set to Relax Rules for Crypto Token Listings – Report

By Sanday Chongo Kabange | 23/10/2022

Crypto tokens will reportedly be able to list within 30 days. Currently, the screening process for a new listing takes around six months to a year.