Sanctions

Sanctions

Shipping Groups Seeking “Sanctions-proof” Contracts with China

By Editors | 17/05/2023

Shipping groups are reportedly seeking to insert clauses in their contracts that would allow them to cancel deals with Chinese counterparts due to sanctions.

Enforcement

OFAC Sanctions Key Actor in Russian Ransomware Ecosystem

By Editors | 16/05/2023

The Russian national helped to develop and deploy ransomware variants Hive, LockBit, and Babuk. A $10mn award is offered for information that leads to his arrest.

AML / KYC

IMF Offers New Guidance on Combatting Terrorism Financing

By Editors | 16/05/2023

New downloadable book presents contributions by experts from the IMF, UN, Egmont Group, INTERPOL, and Europol.

Sanctions

OFAC Makes Structural Changes to Minimise Collateral Damage of Sanctions

By Editors | 15/05/2023

OFAC hired a chief sanctions economist to lead a new division that will assess the potential collateral economic effects of proposed sanctions.

Sanctions

US DOJ Approves First Transfer of Seized Russian Funds to Ukraine

By Editors | 15/05/2023

“While this represents the United States’ first transfer of forfeited Russian funds for the rebuilding of Ukraine, it will not be the last,” said Attorney General Merrick Garland.

AML / KYC

Philippine AMLC Issues New Sanctions Screening Guidance

By Editors | 13/05/2023

An AMLC review found deficiencies including excessive manual processes, high false positives, and a lack of understanding of how sanctions screening systems operate.

Crypto / Digital Assets

IRS, Chainalysis Team Up to Support Ukraine Law Enforcement

By Editors | 11/05/2023

The IRS is sponsoring Ukraine’s access to a Chainalysis blockchain analysis tool and also organising cyber training sessions.

AML / KYC

HK Companies Registry Issues AML Guidance for TCSP Licensees

By Editors | 09/05/2023

New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.

Sanctions

EU Commission Proposes Sanctions Against Chinese Companies

By Editors | 09/05/2023

The proposals also include sanctions on Iranian companies, measures to restrict sales of certain products to third countries, and powers to ban oil tankers that conceal their location.