News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-02-24T16:45:00
The Treasury Department’s Office of Foreign Assets Control (OFAC) marked the one-year anniversary of Russia’s invasion of Ukraine by unveiling a slew of new sanctions against financial services firms and individuals that either support Russia’s war effort or have been judged to be undermining existing U.S. sanctions.
OFAC on Friday announced new sanctions against 22 individuals and 83 entities, taken in coordination with its allies and G7 partners.
“Sanctioned actors have been known to turn to smaller banks as well as wealth management firms in an attempt to evade sanctions as Russia seeks new ways to access the international financial system,” the agency stated in a press release.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-12-22T15:10:00Z By Kyle Brasseur
Insurance organization Privilege Underwriters Reciprocal Exchange agreed to pay $466,200 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
2023-04-13T18:49:00Z By Aaron Nicodemus
The International Investment Bank, a multinational development institution headquartered in Hungary, was designated by the Office of Foreign Assets Control for potentially facilitating the evasion of U.S. sanctions against Russia.
2023-03-06T20:01:00Z By Aaron Nicodemus
The Bureau of Industry and Security, Office of Foreign Assets Control, and Department of Justice issued guidance to highlight common methods bad actors use to evade sanctions and export controls on Russia and how to spot their use.
2024-10-03T16:02:00Z By Ruth Prickett
Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation to investigate and penalize those who break sanctions rules.
2024-07-31T14:40:00Z By Aaron Nicodemus
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control for helping to obtain components used in Iran’s missles and drones.
2024-06-26T14:37:00Z By Aaron Nicodemus
The Treasury Department’s Office of Foreign Assets Control sanctioned nearly 50 entities connected with so-called “shadow banking” networks that help Iran’s military evade U.S. sanctions and to sell the country’s oil and petrochemical products.
Site powered by Webvision Cloud