Sanctions

AML / KYC

EU Sanctions Officials from China, Myanmar, Others

By Editors | 22/03/2021

The EU, US, UK and Canada all imposed sanctions against Chinese officials and entities on Monday, citing human rights abuses in Xinjiang.

AML / KYC

US Sanctions 24 Officials Over Hong Kong Electoral Changes

By Editors | 19/03/2021

Foreign financial institutions that knowingly conduct significant transactions with the 24 individuals are subject to sanctions.

AML / KYC

Stress Testing Your Sanctions Screening Effectiveness

By Manesh Samtani | 18/03/2021

Independent testing can serve as a functional, scientific and transparent approach to bolster the effectiveness and efficiency of sanctions screening systems.

AML / KYC

UPDATED – US Federal Judge Lifts Investment Ban Against Xiaomi

By Manesh Samtani | 17/03/2021

The judge said there was no evidence of Xiaomi sharing information with the Chinese government, and that the ban deprived the company of its right to due process.

Market Infrastructure

SWIFT to Launch Enhanced Platform in November 2022

By Editors | 14/03/2021

The first release of the enhanced platform will go live in November 2022, supporting MT messaging and ISO 20022, while also allowing connections via APIs.

AML / KYC

Addressing Financial Crime Through Data-driven Compliance

By Heather Lee | 13/03/2021

Given the rapid growth of digital technologies in financial services, the most effective way to defeat financial criminals today is to ‘follow the data’, says SWIFT’s Heather Lee.

AML / KYC

OFAC Sanctions Adult Children of Myanmar Military Leader

By Editors | 11/03/2021

The two adult children of the commander-in-chief of Myanmar’s military, Min Aung Hlaing, and six of their companies, have been designated by OFAC.

Sanctions

Myanmar Banks Fail to Resume Operations Despite CBM Order

By Ranamita Chakraborty | 11/03/2021

The banking sector is not fully operational due to staff shortages as employees take part in nationwide protests against the military government.

AML / KYC

China to Bolster Legal Defences Against Foreign Sanctions

By Editors | 09/03/2021

China plans to accelerate legislation designed to guard against foreign sanctions, interference and long-arm jurisdiction, a top lawmaker has said.