Sanctions

Sanctions

India, Russia to Explore Cross-border Payment Linkages

By Editors | 02/05/2023

India agreed to explore the acceptance of Russian Mir cards, a link with Russia’s Faster Payments System, and adoption of Russia’s financial messaging system.

Sanctions

US Authorities Issues First ‘Wrongful Detention’ Sanctions

By Editors | 02/05/2023

Russia’s Federal Security Service, Iran’s Islamic Revolutionary Guard Corps Intelligence Organization, and four Iranian officials were designated.

AML / KYC

Combatting TBML Through Beneficial Ownership and Enhanced Transparency

By Jeremy Moller | 02/05/2023

Jeremy Moller discusses TBML trends, indicators, and how Australia’s proposed beneficial ownership registry could help mitigate this threat.

Enforcement

British American Tobacco to Pay $629m in DPRK Sanctions Case

By Mark Johnston | 27/04/2023

OFAC’s $508mn penalty, its largest ever against a non-financial institution, settles charges related to the export of tobacco products to North Korea.

AML / KYC

US Official Details Sanctions Evasion Red Flags During European Visit

By Editors | 25/04/2023

Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.

AML / KYC

OFAC Sanctions Three for Facilitating Lazarus Group Activities

By Editors | 25/04/2023

China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.

Sanctions

UK, US, EU Announce Fresh Sanctions Against Iran

By Editors | 24/04/2023

US sanctions four senior Iranian law enforcement and military officials; EU sanctions eight Iranians and telco provider; UK sanctions four IRGC commanders.

Enforcement

US Fines Seagate Over Hard Drive Shipments to Huawei

By Sanday Chongo Kabange | 24/04/2023

Seagate was fined $300mn, the largest standalone administrative penalty in BIS history, for shipping hard drives to Huawei in violation of US export controls.

Sanctions

UK Sanctions Russians Over ‘Politically-motivated Conviction’

By Editors | 21/04/2023

The sanctions target two FSB agents who were allegedly involved in poisoning political activist Vladimir Kara-Murza, as well as a judge and two investigators.