All posts tagged "OFAC"
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208AML / KYCOFAC Issues Sanctions Guidance for Crypto Sector
OFAC expects virtual currency operators to identify and block IP addresses that originate in sanctioned jurisdictions, including via VPNs.
October 18, 2021 -
235AML / KYC
US Sanctions Crypto Firm Over Ransomware Payments
OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.
September 22, 2021 -
416AML / KYCOFAC Fines Bank of China UK for Sudan Sanctions Breach
BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.
September 1, 2021 -
290AML / KYCChina Names First Targets of Anti-Foreign Sanctions Law
China has sanctioned former US Secretary of Commerce Wilbur Ross, 5 other individuals, and a nonprofit organisation.
July 26, 2021 -
238AML / KYCUS Government Warns Of Rising Business Risk in Hong Kong
A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.
July 18, 2021 -
276AML / KYC
US Court Lifts Investment Ban Against Luokung Technology Corp
Separately, China Mobile, China Unicom and China Telecom have lost their appeals of a NYSE decision to delist their shares.
May 11, 2021 -
409AML / 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 -
505AML / 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 -
978AML / 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 -
366AML / KYCUPDATED – US 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
