A brief look at what’s been going on in Asia and the Pacific...

Hong Kong has become a 'hot spot' for sanctions imposed by the US Department of the Treasury's Office of Foreign Assets Control, due to the simplicity of forming companies there makes it a favourite destination for front companies working on behalf of marginalised governments such as Iran, North Korea, and Venezuela, according to law firm Clifford Chance.

The Financial Action Task Force's (FATF’s) latest mutual evaluation report on the jurisdiction, released earlier this month, encouraged Hong Kong to closely monitor its exposure to pro...