Sanctions

AML / KYC

FATF Releases Draft Guidance on Proliferation Financing Risk

By Manesh Samtani | 02/03/2021

The FATF is seeking feedback on the guidance from financial institutions and DNFBPs and will revise the text ahead of June 2021 discussions.

AML / KYC

Huawei Launches Hong Kong Court Proceedings Against HSBC

By Editors | 02/03/2021

Huawei is seeking internal HSBC documents it says will help it defend against its CFO Meng Wanzhou’s extradiction to the US to face bank and wire fraud charges.

Sanctions

NYSE Announces Decision to Delist Chinese Oil Major CNOOC

By Editors | 01/03/2021

The decision was made in light of Executive Order 13959, which was signed in November, and updated guidance provided by OFAC in January.

AML / KYC

FATF Concludes Second Plenary Under German Presidency

By Manesh Samtani | 26/02/2021

The FATF has finalised guidance on risk-based supervision, terrorist financing, and arms trafficking, as well as draft guidance on proliferation financing, and virtual assets.

AML / KYC

Financial Crime Challenges and Opportunities for the Year Ahead

By Editors | 24/02/2021

Financial crime compliance experts Radish Singh, Richard Carrick, Oonagh van den Berg and Michael Meadon discuss challenges and opportunities for the year ahead.

AML / KYC

BIS, SWIFT Invite Firms to Participate in ISO 20022 Hackathon

By Editors | 21/02/2021

Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.

AML / KYC

UK, Canada Impose Sanctions Against Myanmar Officials

By Manesh Samtani | 21/02/2021

Human Rights Watch is calling for economic sanctions, travel bans and asset freezes for leaders of Myanmar’s military, military business conglomerates and the new governing body.

AML / KYC

OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay

By Editors | 20/02/2021

BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.

AML / KYC

BSP Adopts New AML/CFT Risk Assessment Framework

By Ranamita Chakraborty | 18/02/2021

The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.