Sanctions

Sanctions

OFAC Issues Update on Infrastructure Modernisation Initiatives

By Editors | 22/08/2024

OFAC has released updated FAQs to make sanctions compliance easier and launched a new online platform for the public to submit queries.

Enforcement

Latvia Extradites Citizen to Face US Charges for Russian Exports

By Editors | 22/08/2024

Oleg Chistyakov conspired with two US nationals to sell sophisticated avionics equipment to Russian companies, in violation of sanctions.

Sanctions

US Sanctions Former Haitian President for Drug Trafficking

By Editors | 21/08/2024

OFAC said Michel Joseph Martelly facilitated the trafficking of dangerous drugs, laundered illicit drug proceeds, and sponsored criminal gangs.

Sanctions

Shanghai Chip Equipment Firm Sues for Removal from US Blacklist

By Editors | 20/08/2024

AMEC said it has never been involved in any military-related activities and its inclusion in the US blacklist was without legal basis.

AML / KYC

Lithuania Intensifying Crackdown on Sanctions Evasion Activities

By Editors | 19/08/2024

Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.

Sanctions

UK OFSI Issues Additional Guidance on Russia Sanctions

By Editors | 19/08/2024

Among other things, the new FAQs clarify that non-sanctioned Russian nationals and companies in the UK are allowed to open or maintain UK bank accounts.

Sanctions

China Imposes New Export Controls on Strategic Minerals

By Editors | 18/08/2024

The export controls apply to antimony and related products as well as certain equipment and technologies used in materials science and engineering.

AML / KYC

Myanmar Charges Tycoon Over Use of Scam Centre Proceeds

By Editors | 18/08/2024

The former executive chair of privately owned Yoma Bank allegedly used criminal proceeds from online scam centres to invest in a real estate project.

Enforcement

US Man Arrested Over Attempts to Export Aircraft Components to Iran

By Editors | 17/08/2024

Jeffrey Chance Nader falsely identified himself to suppliers as the end user of the components, which he attempted to export to the UAE for transshipment to Iran.