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Mar

EU Lawmakers Want Sanctions Role for Future AML Authority

Dutch MEP Paul Tang, right, participates in a debate in Rotterdam, The Netherlands on Monday, May 19, 2014. On Tuesday, March 28, 2023, Tang voted in favor of plans to broaden a planned, EU-wide anti-financial crime regulator’s remit. (Getty Images)

Legs & Regs

OFAC Announces Changes Made to SDN List in 2023

The Office of Foreign Assets Control released a cumulative list of changes made to the list of Specially Designated Nationals and Blocked Persons between Jan. 1, 2023, and March 31, 2023.

March 31, 2023

OFAC Adds Entity to Global Magnitsky Sanctions List

The Office of Foreign Assets Control of the U.S. Treasury Department published a notice concerning the addition of one entity to the Specially Designated Nationals List and issued a related general license.

March 31, 2023

OFAC Authorizes Certain Transactions Involving Newly Sanctioned Entity

The Office of Foreign Assets Control issued General License No. 7 under the Global Magnitsky Sanctions Regulations, which authorizes certain transactions involving Tabacalera del Este S.A. or Tabacos USA Inc. that are related to the Tobacco Master Settlement Agreement.

March 31, 2023

OFAC Clarifies Scope of New General License Under Global Magnitksy Sanctions

The Office of Foreign Assets Control of the U.S. Treasury Department published a new frequently asked question that covers a general license to authorize certain transactions involving Tabacalera del Este, S.A. or Tabacos USA Inc.

March 31, 2023

Financial Crime Matters: Oliver Bullough Discusses Money Laundering in the U.K.

March 2, 2023

In this episode of Financial Crime Matters, Oliver Bullough, an author and reporter for the Guardian, joins Kieran Beer of ACAMS moneylaundering.com to discuss his latest book, “Butler to the World: How Britain Became the Servant of Tycoons, Tax Dodgers, Kleptocrats and Criminals.”

Nathalia Dukhan and Naureen Chowdhury Fink Shed Light on Russia's Wagner Group

March 10, 2022

In this episode of Sanctions Space, Justine Walker of ACAMS, Nathalia Dukhan of The Sentry, and Naureen Chowdhury Fink of the Soufan Center, discuss the Wagner Group, a paramilitary organization created in Russia involved in global terrorism and stirring economic unrest.

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DATE: 04/24/23 - 04/25/23

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According to the Financial Action Task Force, money laundering risk indicators for the art and antiquities market include:

A. Sales or purchases of art that vastly exceed the expected sales value of the work.
B. Imported art declared to the relevant customs authorities.
C. Transactions paid via credit cards.
D. None of the above.

View all quizzes

More News

Weekly Roundup: Credit Suisse Allegedly Violated US Tax Crime Settlement, Report Ties South African Banks to Gold Smuggling Scheme, and More

Wells Fargo fined $68 million, appeal knocks down Malta's AML regulator, and more, in the weekly roundup.

March 31, 2023

Malta Court Ruling Shackles AML Regulator

By Gabriel Vedrenne

Malta's highest court ruled Thursday that anti-money laundering authorities violated constitutional principles in fining a local payment processor absent a hearing, marking the latest in a series of legal decisions that threaten to upend enforcement on the island.

March 31, 2023

Wells Fargo Tagged with $98 Million Sanctions Penalty and Settlement

By Benjamin Hardy

Wells Fargo must pay a $68 million penalty to the U.S. Federal Reserve and an additional $30 million to the Treasury Department for inadvertently allowing an unidentified European bank to conduct $532 million in transactions tied to blacklisted parties and nations from 2010 to 2015.

March 30, 2023

Britain’s Plan for Tackling Money Launderers, Sanctions Evaders Draws Criticism

By Koos Couvée

U.K. officials aim to bolster the ranks of the National Crime Agency, Crown Prosecution Service, HM Revenue & Customs, Serious Fraud Office and other agencies with 475 specialist investigators and prosecutors over the next three years to tackle illicit finance.

March 30, 2023

Breaking March 30, 2023: 7:46 am ET

Britain Publishes New Economic Crime Plan

Enforcement Actions

OFAC: Uphold HQ Inc. to Pay Over $72,000 for Sanctions Violations

The Office of Foreign Assets Control of the U.S. Treasury Department entered into a settlement agreement with the Larkspur, CA-based money services business to resolve apparent violations of U.S. sanctions against Iran, Cuba, and Venezuela.

March 31, 2023

OFAC: Wells Fargo Bank, N.A. Agrees to Pay $30 Million for Sanctions Violations

The Office of Foreign Assets Control of the U.S. Treasury Department entered into a settlement agreement with the Sioux Falls, SD-based bank to resolve apparent violations of U.S. sanctions against Iran, Syria, and Sudan.

March 30, 2023