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SANCTIONS
Sanctions
Venezuela’s PDVSA to Hasten Move to USDT to Mitigate Sanctions
By Editors | 24/04/2024
USDT issuer Tether said in response that it respects the SDN list and will block payments made to sanctioned entities.
Sanctions
OFAC Unveils New Sanctions Against Iranian Cyber Actors
By Editors | 24/04/2024
Two entities and four individuals were sanctioned for the roles in targeting US entities with ransomware, spear phishing and malware attacks.
Sanctions
JPMorgan Sues Russia’s VTB Over Blocked Funds – Report
By Editors | 23/04/2024
JPMorgan said VTB Bank has filed a lawsuit in Russia that may enable it to seize the US bank’s assets abroad.
Sanctions
Data is Key to Making Sanctions Work – RUSI Report
By Editors | 23/04/2024
Banks would be able to better identify red flags and stop illicit transactions if certain fields in SWIFT such as HS trade codes were made mandatory.
AML / KYC
Singapore Officials Assure Foreign Banks of Stability – Report
By Nithya Subramanian | 22/04/2024
Senior government officials have held briefings with international banks to emphasise Singapore’s safety, reliability and trustworthiness.
Enforcement
ECB to Order UniCredit, Raiffeisen to Cut Russia Business – Reports
By Editors | 22/04/2024
Italy’s UniCredit and Austria’s Raiffeisen Bank International are expected to be ordered by the ECB to pare back their Russia business.
Enforcement
OFAC Penalises Thai Petrochemical Firm for Sanctions Violations
By Editors | 21/04/2024
A unit of a Siam Cement Group subsidiary obfuscated the Iranian origin of polyethylene resin, causing US banks to unknowingly process transfers that violated sanctions.
Sanctions
US Sanctions Four Entities Over Pakistan Missile Inputs
By Editors | 21/04/2024
One Belarus-based and three China-based entities were sanctioned for supplying Pakistan’s ballistic missile programme.
Sanctions
US, EU Issue New Sanctions Over Settler Violence in West Bank
By Editors | 21/04/2024
OFAC’s sanctions target two entities that helped raise funds for two already-designated Israeli settlers. The EU sanctions target four individuals and two entities.
Sanctions
US Reimposes Sanctions on Venezuela’s Oil and Gas Sectors
By Editors | 20/04/2024
Venezuela has fallen short of its commitments in terms of opening up the democratic and electoral process, US officials said.
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