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.