Sanctions


TerroristMoney

What banking CCOs need to know about new terrorist funding order

2019-09-13T14:42:00+01:00By

Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.

Audit

PCAOB sanctions Marcum over auditor independence issues

2019-09-11T17:59:00+01:00By

The PCAOB has settled disciplinary actions with audit firm Marcum, an affiliated firm, and its former auditor independence leader over independence violations.

ChinaUSTradeWar

How industries are responding to the escalating U.S.-China trade war

2019-09-06T15:36:00+01:00By

While the escalating tit-for-tat trade war and increasing tariff rate hikes between the U.S. and China cannot be controlled, proactive companies are learning to swing with the punches—from diversifying their supply chains to shifting their production lines elsewhere.

Ward

Bob Ward on pros of targeted sanctions

2019-07-15T15:45:00+01:00By

Bob Ward, director of trade compliance at Wesco International, explains to columnist Tom Fox the benefits of targeted sanctions and how compliance practitioners can properly respond to such.

Sanctions

Five ‘essential components’ of a sanctions compliance program

2019-07-02T19:40:00+01:00By

Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.

FedEx plane

FedEx sues Feds over export control burdens related to Huawei dispute

2019-06-25T18:12:00+01:00By

Shipping giant FedEx is suing the federal government in an effort to reverse what it says are impossible to achieve compliance burdens imposed by the Department of Commerce.

TornContract

SEC overturns PCAOB action stemming from financial crisis

2019-06-19T13:45:00+01:00By

The SEC has canceled sanctions imposed by the PCAOB on a now-retired KPMG auditor connected with a mortgage lender failure at the height of the financial crisis.

Expedia building

Expedia settles with Treasury for violations of U.S. sanctions on Cuba

2019-06-14T16:28:00+01:00By

Expedia Group has agreed to pay more than $325,000 to resolve allegations that it violated U.S. sanctions on Cuba, the Treasury Department announced.

CRCC building

World Bank debars China Railway Construction, two subsidiaries

2019-06-10T14:52:00+01:00By

The World Bank announced the nine-month debarment of China Railway Construction Corp. and two of its subsidiaries concerning misconduct under a highway project in Georgia.

Veolia

World Bank debars French, Brazilian subsidiaries of Veolia Water

2019-05-29T19:39:00+01:00By

The World Bank has debarred two subsidiaries of Veolia Water Technologies for fraudulent and collusive practices during a bidding process under the Río Bogotá Environmental Recuperation and Flood Control Project in Colombia.

Treasury_Department_rear_view

Treasury issues Finding of Violation to State Street subsidiary

2019-05-29T19:17:00+01:00By

The U.S. Treasury Department has found that State Street Bank and Trust violated Iranian Transactions and Sanctions Regulations.

Huaweibldg

U.S. could ban all Huawei products

2019-05-16T19:59:00+01:00By

New moves from the Commerce Department suggest a full domestic ban on products from the Chinese telecom giant Huawei are forthcoming.

WorldBank

World Bank Group debars Sieyuan Electric

2019-05-14T17:07:00+01:00By

The World Bank Group has placed a 15-month debarment on Shanghai-based Sieyuan Electric relating to fraudulent practices under the Inter-Zonal Transmission Hub Project.