Tag: Money laundering

Regulatory Watch News

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  Financial sanctions update: Cyber

  OFSI

  May 7, 2024

  On 7 May 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entry has been added under the Cyber financial sanctions regime and is now subject to an asset freeze:

  • Dmitry Yureyvich Khoroshev (Group ID: 16494)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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  MAS Imposes Composition Penalty of S$2.5 million on Swiss-Asia Financial Services Pte. Ltd. for AML/CFT Breaches, Reprimands its CEO and COO

  MAS

  May 7, 2024

  Singapore, 7 May 2024… The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$2.5 million on Swiss-Asia Financial Services Pte. Ltd. (SAFS) for breaches of MAS’ anti-money laundering and countering the financing of terrorism (AML/CFT) requirements. MAS has also issued a reprimand to SAFS’ chief executive officer (CEO), Mr Olivier Pascal Mivelaz, and its chief operating officer (COO), Mr Steve Knabl, for failing to discharge their duties and functions of ensuring that SAFS complied with MAS’ AML/CFT requirements.

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  SFC obtains interlocutory asset freezing order against Leung Anita Fung Yee Maria

  Securities and Futures Commission

  May 7, 2024

  The Securities and Futures Commission (SFC) has obtained an interim injunction order at the Court of First Instance against Ms Leung Anita Fung Yee Maria, former chief executive officer and executive director of SMI Culture & Travel Group Holdings Limited (SMI Culture & Travel Group), following the hearing of a Mareva injunction application on 6 February 2024 .