All posts tagged "OFAC"
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133AML / KYCOFAC Penalises MoneyGram & SAP for Sanctions Violations
In both cases, OFAC cited voluntary self-disclosures, the non-egregiousness of the violations, and remedial action as the reasons for the penalty amounts.
May 5, 2021 -
223AML / KYCUS Sanctions Holding Companies Backing Myanmar Military
The new sanctions target the Myanmar military’s control of significant segments of the country's economy, which is a vital financial lifeline for the military junta.
March 26, 2021 -
604AML / KYCStress Testing Your Sanctions Screening Effectiveness
Independent testing can serve as a functional, scientific and transparent approach to bolster the effectiveness and efficiency of sanctions screening systems.
March 18, 2021 -
216AML / KYCUS Federal Judge Lifts Investment Ban Against Xiaomi
The judge said there was no evidence of Xiaomi sharing information with the Chinese government, and that the ban deprived the company of its right to due process.
March 17, 2021 -
265AML / KYCOFAC Sanctions Adult Children of Myanmar Military Leader
The two adult children of the commander-in-chief of Myanmar’s military, Min Aung Hlaing, and six of their companies, have been designated by OFAC.
March 12, 2021 -
227ChinaNYSE Announces Decision to Delist Chinese Oil Major CNOOC
The decision was made in light of Executive Order 13959, which was signed in November, and updated guidance provided by OFAC in January.
March 1, 2021 -
815AML / KYCFinancial Crime Challenges and Opportunities for the Year Ahead
Financial crime compliance experts Radish Singh, Richard Carrick, Oonagh van den Berg and Michael Meadon discuss challenges and opportunities for the year ahead.
February 24, 2021 -
254AML / KYCOFAC Settles Sanctions Case Against Crypto Payments Processor BitPay
BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.
February 21, 2021 -
192AML / KYCIndex Providers to Remove More Chinese Firms from Indexes
MSCI and FTSE Russell say they will remove five more Chinese companies from their global indexes in the absence of further OFAC guidance.
January 27, 2021 -
1.1KAML / KYCFinancial Crime 2021: Digital ID, Due Diligence, Sanctions
Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.
January 21, 2021
