By Aaron Nicodemus2024-07-24T15:50:00
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control (OFAC) are now required to do so by Aug. 2.
According to a new reporting requirement for the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act ( REPO for Ukrainians Act), financial institutions that have newly discovered or obtained Russian sovereign assets must report them to OFAC by Aug. 2, or within 10 days of the detection of the assets, the agency said Tuesday in a press release.
Reports on Russian sovereign assets can be made using OFAC’s new form.
2024-07-29T14:41:00Z By Aaron Nicodemus
State Street Bank & Trust Co. will pay a $7.5 million fine to settle allegations by the Treasury Department’s Office of Foreign Assets Control that a subsidiary violated sanctions against Russia.
2024-05-15T20:56:00Z By Adrianne Appel
Three Russia-based companies and an individual were designated by the U.S. Treasury Department for trying to recapture more than $1.5 billion in frozen shares owned by a previously sanctioned Russian oligarch using a complex evasion scheme.
2024-04-15T15:38:00Z By Jeff Dale
The U.S. Treasury Department, in coordination with the United Kingdom, is clamping down harder on Russia’s ability to wage war against Ukraine by banning the import of Russian-origin aluminum, copper, and nickel.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
2025-09-29T19:09:00Z By Adrianne Appel
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
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