Sanctions

AML / KYC

China Imposes Retaliatory Sanctions Against US Officials

By Editors | 13/07/2020

The US President said that a phase two trade deal with China isn’t under consideration, though China has continued to meet its commitments under the phase one deal signed in January.

AML / KYC

US Sanctions Chinese Officials Over Uyghur Human Rights

By Editors | 12/07/2020

US persons and financial institutions are prohibited from conducting financial transactions with any of the four designated individuals.

AML / KYC

Chinese Banks Plan for Possible US Sanctions – Report

By Editors | 09/07/2020

Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.

AML / KYC

UK Imposes First Sanctions Over Human Rights Abuses

By Editors | 07/07/2020

The UK has designated 25 Russians, 20 Saudi Arabians, two Myanmar generals, and two North Korean organisations. Their UK assets will be frozen.

AML / KYC

Global Banks Seek Clarity on ‘Hong Kong Autonomy Act’

By Editors | 05/07/2020

Under the legislation, banks can be penalised for conducting a ‘significant transaction’ with Chinese individuals or entities named as having contributed to the erosion of Hong Kong’s autonomy.

AML / KYC

National Security Legislation Promulgates in Hong Kong

By Editors | 30/06/2020

A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.

AML / KYC

Hong Kong Autonomy Act Advances in US Congress

By Manesh Samtani | 26/06/2020

Once signed into law, the Act will authorise the use of sanctions against individuals, entities and financial institutions in response to China’s new national security law for Hong Kong.

AML / KYC

Singapore Court Charges Two for North Korea Linked Bank Fraud

By Editors | 21/06/2020

The two are accused of falsifying invoices to conceal from UOB and OCBC the sale of sugar to North Korea entities. One of the individuals is also on the FBI’s most-wanted list.

AML / KYC

US Passes Bill Threatening Sanctions Over Uyghur Human Rights

By Editors | 19/06/2020

The bill allows the US President to impose sanctions against Chinese officials identified as responsible for human rights abuses against Muslim minority groups in Xinjiang.