U.S. authorities list red flags for sanction evasion by third parties
By 
Aaron Nicodemus2023-03-06T20:01:00
Three U.S. agencies issued guidance to highlight common methods bad actors use to evade sanctions and export controls on Russia and how to spot their use.
The Department of Commerce’s Bureau of Industry and Security (BIS), Department of the Treasury’s Office of Foreign Assets Control (OFAC), and Department of Justice (DOJ) issued the joint compliance note Thursday regarding the use of third-party intermediaries or transshipment points to circumvent the penalties placed on Russia by the United States for waging war against Ukraine.
The note listed red flags U.S. companies should look for as possible signs of sanctions or export controls evasion by third-party intermediaries:
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefOFAC doubles down on sanctions against Belarusian regime
The Treasury Department’s Office of Foreign Assets Control announced expanded sanctions against the Belarusian regime three years after the country’s disputed 2020 presidential election.
-
News BriefBanking regs seek consistency via new TPRM guidance
U.S. banking regulators combined to issue final guidance on managing the risks of third-party relationships that replaces the previous documentation each agency released individually.
-
News Brief
Attorney pleads guilty to aiding sanctioned Russian oligarch
New York attorney Robert Wise faces up to five years in prison after pleading guilty to making payments to maintain U.S. properties secretly owned by sanctioned Russian oligarch Viktor Vekselberg.
More from Regulatory Policy
-
Basic PageUnicoin defrauded investors through future crypto token scam, SEC alleges
The Securities and Exchange Commission has charged cryptocurrency company Unicoin, three top executives, and its general counsel with defrauding investors of $110 million by selling them bogus “rights certificates” in a future cryptocurrency coin.
-
News BriefNot just for the rich: SEC may make closed-end funds available to retail investors
Securities and Exchange Commission Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
-
Basic PageDOJ shutters FBI unit that investigated Trump and 2020 election interference
The Department of Justice (DOJ) has shuttered a special Federal Bureau of Investigation (FBI) unit that focused on public corruption and whose legwork led to the special counsel investigation of President Donald Trump for trying to overturn the 2020 election results.