- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-04-09T20:20:00
Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.
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The U.K. Office of Financial Sanctions Implementation hit Standard Chartered Bank for a record fine relating to loans the bank made to Russian financial institutions in violation of the EU’s sanction regime.
A new report published by the Department of the Treasury cites compliance weaknesses among the most significant illicit finance threats and vulnerabilities facing the U.S. financial system.
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
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.
