The Anti-Money Laundering and Anti-Terrorism Financing (Security Council Resolutions) (Al-Qaida and Taliban) (Amendment) Order 2014 (“Amendment Order”) came into force in Malaysia on 10 September 2014. Overview of the law The primary legislation governing money laundering and terrorism financing in Malaysia is the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (“AMLATFA”). To counter the financing of terrorism, Sections 66C and 66D of the AMLATFA empower the Minister of Home Affairs (“Minister”) to make…
On Friday 10 October, Norway strengthened its restrictive measures against Russia to reflect the measures introduced by the EU on 12 September. With the announcement of the adoption of Forskrift-2014-10-10-1278, which took immediate effect, the Norwegian Minister of Foreign Affairs Børge Brende stated, “Russia’s actions in Ukraine remain a matter of serious concern. A fragile ceasefire is in place, but Russia has not complied with the demands made by the international community, including immediate, complete…
We recently reported that Norway had yet to enact ‘Stage 3’ sectoral sanctions against Russia and would likely do so imminently. In light of the continued deteriorating situation in Ukraine, Norway enacted Forskrift 2014-08-15-1076 concerning restrictive measures that undermine or threaten Ukraine’s territorial integrity, sovereignty, independence and stability (the “Regulation”) on 15 August, which entered into force immediately. In a press release of the same date, the Norwegian Minister of Foreign Affairs Børge Brende…
On 25 and 29 July, the Norwegian Ministry of Foreign Affairs published two amending regulations (Forskrifts) (see here and here) which add further designations to the Norwegian sanctions list under the Norwegian Sanctions Act. These regulations mirror those of the EU and these new designations have already been targeted by the EU. Please note that the EU designations of 30 July set out in EU Implementing Regulation 826/2014 do not yet appear to have been…