SANCTIONS

Enforcement

US Jury Convicts Two Individuals for Attempting to Export Iranian Oil to China

By Editors | 23/11/2023

The individuals were accused of conspiring to violate US sanctions through a scheme to sell Iranian-origin petroleum to a Chinese buyer via shell companies.

Sanctions

FinCEN Hosts US Banks for Discussion on Russian Export Controls Evasion

By Editors | 23/11/2023

Readout from FinCEN forum includes a list of guidance documents to help financial institutions detect and report transactions related to suspected export controls evasion.

AML / KYC

FATF, OECD Spotlight Vulnerabilities of Investment Migration Programmes

By Manesh Samtani | 23/11/2023

The report proposes mitigation measures to address the risks and vulnerabilities associated with investment migration programmes.

Sanctions

UK, South Korea to Cooperate on North Korea Sanctions Patrols

By Editors | 23/11/2023

Agreement calls for greater naval cooperation to detect and thwart violations of UN sanctions off the coast of North Korea.

AML / KYC

US Authorities Secure Multi-Billion Dollar Settlement from Binance

By Editors | 21/11/2023

Binance CEO Changpeng Zhao stepped down as part of the settlement with DOJ, FinCEN, OFAC and CFTC. SEC case not mentioned.

Sanctions

US Adds Indian Firm to Entity List, Highlights Export Controls on Russia

By Editors | 20/11/2023

Commerce Department accuses the firm of supplying US-origin circuits to Russian defence companies, while also targeting firms supplying US-origin airline parts to Venezuela.

Enforcement

OFSI Updates Sanctions Guidance to Clarify “Control Test”

By Editors | 19/11/2023

The updated guidance clarifies that political leaders are not presumed to control public bodies or private companies for the purposes of UK sanctions, in response to a recent court decision.

Sanctions

US Sanctions Highlight Russian Influence in Balkans Region

By Editors | 17/11/2023

US government actions targets individuals and entities linked to Russia accused of corruption and destabilising activities in the Balkans.

Enforcement

OFAC Sanctions UAE Companies, Vessels for Trading Russian Oil

By Editors | 17/11/2023

Latest OFAC action meant to strengthen enforcement of the G7 oil-price cap as Russia continues to profit from oil exports.