- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-04-22T16:00:00
The Treasury Department’s Office of Foreign Assets Control sanctioned two Israeli entities for establishing fundraising campaigns for extremists fomenting violence in the West Bank.
OFAC designated Mount Hebron Fund and Shlom Asiraich for generating $140,000 and $31,000, respectively, on behalf of Yinon Levi and David Chai Chasdai, both of whom were designated in February for allegedly leading a riot that resulted in the death of a Palestinian civilian.
“Mount Hebron Fund and Shlom Asiraich generated tens of thousands of dollars for extremists responsible for destroying property, assaulting civilians, and violence against Palestinians,” said Deputy Secretary of the Treasury Wally Adeyemo in a press release Friday.
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The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
A subsidiary of Thailand-based SCG Chemicals Co. agreed to pay a $20 million fine to the Office of Foreign Assets Control over “egregious” violations of sanctions against Iran.
The Treasury Department announced new sanctions against Iran, with Treasury Secretary Janet Yellen promising “further actions in the days and weeks ahead” following the Middle East nation’s attack on Israel.
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.
The Treasury Department’s Office of Foreign Assets Control and Secretary Janet Yellen announced sanctions Thursday against the top leaders of La Nueva Familia Michoacana drug cartel over the illicit trafficking of synthetic opioid fentanyl in the United States.
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
