All Russia articles – Page 4
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ArticleFinCEN advisory highlights Russian kleptocracy concerns
The Financial Crimes Enforcement Network issued an advisory offering red flag indicators of kleptocracy and foreign corruption, noting Russia as a country of “particular concern.”
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ArticleYellen calls China to the carpet on Russia-Ukraine war
U.S. Treasury Secretary Janet Yellen warned countries that are unified in their sanctions against Russia “will not be indifferent to actions that undermine the sanctions we’ve put in place.”
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ArticleICA Insight: Russia sanctions frequently asked questions
Jake Plenderleith of the International Compliance Association answers selected questions from attendees of a recent ICA webinar on Russian sanctions intended to help provide clarity on what firms can do to protect themselves from exposure.
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ArticleTreasury expands sanctions against large Russian banks
The Department of the Treasury announced strengthened sanctions against two of Russia’s largest financial institutions, Sberbank and Alfa-Bank, that were already subject to U.S. restrictions.
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ArticleS&P Global fined $79K over alleged 2016-17 dealings with sanctioned Rosneft
Financial analytics provider S&P Global agreed to pay $78,750 as part of a settlement with the Office of Foreign Assets Control regarding alleged dealings with sanctioned Russian state-owned oil company Rosneft in 2016 and 2017.
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ArticleSenators call for close of private investment AML/CFT loophole
Sens. Sheldon Whitehouse (D-R.I.) and Elizabeth Warren (D-Mass.) called on the Treasury Department and SEC to close a “disconcerting loophole” that exempts hedge funds and other private investment firms from reporting suspicious activity within their transactions to authorities.
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ArticleUkrainian telecom victim of ‘powerful’ cyberattack
Ukrainian telecommunications company Ukrtelecom is in the process of restoring its services after a “powerful” cyberattack wreaked havoc on its operations.
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ArticleAdvice for navigating ‘fast and furious’ Russian sanctions landscape
To help sort through the gray area of evolving sanctions and export control restrictions against Russia, chief compliance officers should consider a handful of key best practices.
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ArticleBanks face complex compliance risks as they attempt to exit Russia
Once a bank decides to withdraw or wind down its Russian operations, there are a host of thorny compliance issues to navigate in a compressed timeframe, including sanctions implications, money laundering risks, and more.
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ArticleGrowing list of companies halting Russian operations
As the Russia-Ukraine crisis unfolds, companies around the world have announced changes to their supply chains to reduce their footprint in Russia. Compliance Week looks at how businesses across multiple industries are responding.
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ArticleGoldman Sachs first major U.S. bank to exit Russia
Goldman Sachs announced the winding down of its business in Russia, becoming the first major U.S. bank to take such action in the wake of the invasion of Ukraine. JPMorgan Chase later announced similar plans to exit the country.
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ArticleMTS compliance monitorship extended one year
The Department of Justice and Mobile TeleSystems jointly agreed to voluntarily extend for one year the term of the Russian telecommunications company’s independent compliance monitorship in accordance with a 2019 deferred prosecution agreement.
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ArticleFinCEN warns financial institutions of Russian sanctions evasion
The Financial Crimes Enforcement Network issued guidance highlighting the types of red flags financial institutions should be looking for to detect potential Russian sanctions evasion attempts.
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ArticleSteps for preparing for potential Russian cyberthreats
As the West seeks to isolate Russia, the country might retaliate with state-sponsored cyberattacks. Although Russia is suspected to have launched such attacks before, the scale and scope could be much bigger this time, experts warn.
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ArticleDOJ establishes task force to ensure compliance with Russia sanctions
Attorney General Merrick Garland announced the formation of an interagency task force designed to ensure sanctions and other actions implemented by the U.S. government against Russia and its officials are fully enforced.
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ArticleAnalysis: Scope of supply chain disruptions from Russian invasion of Ukraine
Analysis conducted by supply chain risk management platform Interos highlights the scope of global supply chain disruptions on U.S. and European companies resulting from Russia’s invasion of Ukraine.
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ArticleU.S. turns up heat on Russian banking system with new sanctions
The U.S. Department of the Treasury announced expanded sanctions against Russia affecting 80 percent of all banking assets in the country following its further invasion of Ukraine.
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ArticleWhat sanctions on Russia mean for U.S. companies
The first wave of sanctions imposed on Russia and its financial sector aren’t expected to result in any immediate implications for U.S. companies or their global supply chains. With matters escalating, that could quickly change, according to sanctions experts.
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ArticlePandora Papers: Takeaways for compliance
The “Pandora Papers” could open Pandora’s box for all businesses and organizations found to be entangled in its worldwide web of shell companies, offshore tax havens, and secret trusts.
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ArticleSchlumberger subsidiary to pay $1.4M for Russian sanctions violations
A Houston-based subsidiary of oilfield services company Schlumberger has been fined approximately $1.4 million by the Office of Foreign Assets Control for selling goods to a Russian-based energy firm that was under U.S. sanctions.