Angolan Central Bank Theft First Target of Expanded UK Asset-Freeze Power

Vehicles park next to the National Bank of Angola on Thursday, April 28, 2014. U.K. officials used an expanded asset-freezing measure to restrain and recover hundreds of millions of dollars stolen from the lender last year. (iStock)



HM Treasury modified its Consolidated List of Financial Sanctions Targets in the United Kingdom, which contains the names of designated individuals and entities subject to international asset freezing and domestic sanctions under the Terrorist Asset-Freezing etc. Act 2010.
The Office of Foreign Assets Control, part of the U.S. Treasury Department, updated its list of Specially Designated Nationals and Blocked Persons, which designates organizations and individuals who are restricted from doing business with the United States, American companies or Americans.

Enforcement Actions

The New York State Department of Financial Services issued two consent orders against the Paris, France bank and its New York, NY-branch for violations of the Bank Secrecy Act and federal laws governing sanctions against Iran, Sudan, Cuba and Libya.
The Office of Foreign Assets Control entered into a settlement agreement with the Paris, France-based financial institution that requires the bank to pay $53,966,916.05 to settle charges that it processed 1,077 transactions totaling $5,560,452,994.36 in violation of U.S. sanctions regulations.