Sanctions

Enforcement

US Court Jails Wildlife Trafficker for Rhino Horn Smuggling

By Mark Johnston | 25/09/2023

A Malaysian citizen who conspired to smuggle rhino horns worth USD 2.1 million has been jailed in the US.

Enforcement

OFAC Penalises 3M and Emigrant Bank for Iran Sanctions Violations

By Editors | 24/09/2023

3M agreed to pay $9.6mn for shipments destined for a customer in Iran. Emigrant Bank agreed to pay about $32,000 for processing transactions for two Iranian residents.

Sanctions

US Sanctions Entities Linked to Iranian Drone Production

By Editors | 23/09/2023

The sanctions target entities in Iran, China, Russia, and Turkey for aiding the production, maintenance, and procurement of drones and military aircraft by Iran.

Enforcement

US SEC Charges NY Investment Firm for Advising Russian Oligarch

By Sanday Chongo Kabange | 19/09/2023

The SEC charged Concord Management and its owner for failing to register as investment advisers while advising a sanctioned Russian oligarch.

Sanctions

OFAC Sanctions Iran’s Former President, Intelligence Ministry

By Editors | 19/09/2023

The sanctions were announced after the completion of a prisoner swap, which saw five US citizens released from Iranian detention.

Sanctions

US and Allies Impose New Wave of Sanctions Against Iran

By Editors | 18/09/2023

The sanctions by the US, UK, Canada and Australia come one year after the death of Mahsa Amini while in the custody of Iran’s Morality Police.

Sanctions

G7 Plans to Ban Imports of Russian Diamonds – Report

By Mark Johnston | 17/09/2023

The move is part of efforts to reduce Russia’s revenues and pressure it to end its war in Ukraine.

Sanctions

Gibson Dunn’s David A. Wolber Discusses Compliance Challenges with Sanctions

By Editors | 15/09/2023

David A. Wolber, Of Counsel at Gibson Dunn, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how Singaporean banks and companies face increasing compliance challenges in the sanctions space, citing a couple of reasons. He also outlined steps to avoid violating sanctions.

Sanctions

US Government Unveils 150 New Russia-related Sanctions

By Editors | 15/09/2023

The sanctions include two more Russia-based banks along with several Russia-based wealth management consulting, auditing, and investment firms.