Lexology PRO | Asia-Pacific, Cambodia, China, etc. | 28 Apr 2023
The management of anti-money laundering investigations, the lack of compliance standards for beneficial ownership, and the failure of standards implementation by the private sector, have all been highlighted by a senior FATF member as blind spots for AML in the Asia-Pacific region, at last week’s ACAMS Asia-Pacific conference in Singapore.
Fried Frank Harris Shriver & Jacobson LLP | North Korea, United Kingdom, USA | 26 Apr 2023
A UK-based cigarette manufacturer settled potential civil liability for sanctions violations related to a scheme to export tobacco to North Korea…
Lexology PRO | Asia-Pacific, Brunei, China, etc. | 20 Apr 2023
US fines Seagate US$300 million for illegally selling hard drives to Huawei, Japan consults on further export controls of semiconductor manufacturing technology, and South Korean SK Hynix seeks waiver extension for US export control – plus other key updates.
Nyman Gibson Miralis | Iran, Myanmar, North Korea | 14 Mar 2023
The Financial Action Task Force (FATF) establishes guidelines for a cohesive worldwide approach to prevent money laundering and terrorist financing…
Fried Frank Harris Shriver & Jacobson LLP | India, North Korea, USA | 2 Mar 2023
A tobacco manufacturer registered in India settled OFAC charges for violating North Korea Sanctions regulations. According to OFAC, the manufacturer…
Lexology PRO | Canada, Cuba, Denmark, etc. | 17 Feb 2023
2022 was a standout year for money laundering enforcement. But what went wrong for the institutions that received enormous fines and what can other businesses do to avoid repeating their mistakes?
Lexology PRO | Asia-Pacific, Australia, Canada, etc. | 13 Feb 2023
Myanmar is further sanctioned by Western countries, the US sentences the first North Korean national for money laundering, and Japan may loosen its curb on chip-equipment sales – plus other key updates.
Kangxin Partners PC | China, North Korea | 20 Dec 2022
Lexology PRO | Jersey, New Zealand, North Korea, etc. | 22 Nov 2022
Singapore targets private sector corruption, New Zealand relaxes AML measures for low-risk businesses, and the G20 calls for harsher sanctions on North Korea – plus other key updates.
Fried Frank Harris Shriver & Jacobson LLP | North Korea, USA | 8 Nov 2022
OFAC redesignated a privacy-enhancing virtual currency mixing service that utilizes smart contracts ("the protocol") "for its role in enabling…