Sanctions

AML / KYC

Australian Regulators Propose Measures to Address De-Banking

By Editors | 04/10/2022

A CFR policy paper provides four recommendations to address de‑banking of fintechs, crypto exchanges and remittance firms.

AML / KYC

The Sentry Calls for Action to Stop Kleptocracy Enablers

By Editors | 04/10/2022

New report offers recommendations to target bankers, lawyers, and accountants who provide advice and support to violent kleptocracies and corrupt networks.

AML / KYC

US, UK, Canada, Australia Announce More Russia Sanctions

By Manesh Samtani | 03/10/2022

The sanctions are a response to Putin’s attempt to annex four regions of Ukraine, after holding referendums that have been denounced as illegal and coercive.

AML / KYC

US Sanctions Asia Firms for Facilitating Iranian Oil Sales

By Editors | 01/10/2022

The US designated companies based in China, the UAE, Hong Kong and India. Separately, Canada plans to sanction Iran’s “morality police”.

AML / KYC

Turkish Banks to Stop Using Russia’s Mir Payment System

By Editors | 30/09/2022

Three Turkish state banks will stop using the Mir system in response to guidance issued by OFAC earlier this month. Two others stopped last week.

AML / KYC

G7 Nations Imposing New Russia Sanctions Over “Sham” Referendums

By Manesh Samtani | 30/09/2022

The EU package includes an oil price cap and a complete ban on providing crypto services to Russians. UK targets include Gazprombank, Sberbank and Sovcombank board members.

AML / KYC

AUSTRAC Spotlights Risks Associated with Remittance Sector

By Sanday Chongo Kabange | 27/09/2022

Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.

AML / KYC

AUSTRAC Releases Risk Assessment of Bullion Sector

By Editors | 26/09/2022

Personal income tax evasion was the most common suspected offence, linked to 52% of SMRs, though the associated values were low.

AML / KYC

UK Introduces Economic Crime Bill to Parliament

By Editors | 26/09/2022

The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.