United States

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.

BSP Advocates Passage of New Consumer Protection Law

By Ranamita Chakraborty | 09/03/2021

The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.

Enforcement

US SEC Forms Task Force to Pursue ESG-related Misconduct

By Editors | 08/03/2021

The task force’s initial focus will be to identify material gaps or misstatements in issuers’ disclosure of climate risks under existing rules.

AML / KYC

John McAfee Indicted for Crypto-related Fraud, Money Laundering

By Sanday Chongo Kabange | 08/03/2021

McAfee and his associate allegedly used their large Twitter following to promote altcoins and ICOs to investors through a so-called pump-and-dump scheme.

Enforcement

Ripple, Top Execs File Responses to SEC Complaint

By Manesh Samtani | 06/03/2021

At meetings with crypto trading platforms as recently as 2019, SEC staff did not indicate it may have considered XRP a security, Ripple says.

AML / KYC

GFI Offers Recommendations on Advancing FinCEN Reforms

By Editors | 06/03/2021

Global Financial Integrity says money laundered from tax evasion and illicit funds entering the US financial system from overseas are estimated at $1tr.

ESG / Sustainability

China, US to Co-Chair G20 Sustainable Finance Study Group

By Editors | 02/03/2021

The Sustainable Finance Study Group is being re-established after a two-year suspension, with the PBOC and the US Treasury as its co-chairs.

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.