TOP STORY

Dec

11

Caribbean Traffickers Funneled Funds to China through MSBs

The skyline of Port of Spain, the capital and most populous city of Trinidad, rises above the harbor in this photograph by iStock. Trinidad and Tobago authorities have recently linked victims trafficked from Venezuela to remittances sent to China.

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Legs & Regs

OFAC Publishes Latest Edition of SDN List

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.

December 13, 2019

OFAC Announces Changes Made to SDN List in 2019

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, 2019 and Dec. 13, 2019.

December 13, 2019

OFAC Updates Counterterrorism Sanctions List, Removes Cyber-Related Designations

The Office of Foreign Assets Control of the U.S. Treasury Department notified financial institutions regarding changes to the Specially Designated Nationals List with respect to counterterrorism and cybersecurity.

December 13, 2019

US Treasury Sanctions Two Prominent Money Launderers, Network of Entities Supporting Hezbollah

The U.S. Treasury Department announced that the Office of Foreign Assets Control designated two prominent money launderers and their affiliated companies, including entities that have generated tens of millions of dollars for Hezbollah, its financiers and their malign activities.

December 13, 2019

Financial Crime Matters: Timea Nagy, a Survivor’s Story

December 3, 2019

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, interviews author and trafficking survivor Timea Nagy. They discuss her memoir “Out of the Shadows” and the role of financial institutions in combating modern day slavery.

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More News

To Stay Under French Radar, Terrorist Financiers Turn Towards ‘Online Money Pots’

By : Gabriel Vedrenne

A growing percentage of the millions of euros in charitable contributions misdirected to terrorists and extremists in France each year is flowing through "online money pots," crowdfunding platforms that generally do not screen clients for due-diligence purposes, French officials said.
December 13, 2019

Hezbollah Financier Allegedly Used Art to Escape US Sanctions Net

By : Daniel Bethencourt

The U.S. Treasury Department has accused a prominent Lebanese diamond dealer and a Congo-based money launderer of funneling tens of millions of dollars to the Lebanese militia, Hezbollah, and buying high-end art works to evade sanctions.
December 13, 2019

Weekly Roundup: JPMorgan Chase Exits AML Enforcement, Latvia Seizes Ports from Oligarch, and More

Trinidad and Tobago targets human traffickers, U.S. blacklists Iranian shipping firm and airline, and more, in this week's roundup.
December 13, 2019

Caribbean Traffickers Funneled Funds to China through MSBs

By : Daniel Bethencourt

December 11, 2019

Midweek Roundup: HSBC Settles US Charges, UK Regulatory Fines Increase Sixfold, and More

December 11, 2019
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Enforcement Actions

OFAC Issues Finding of Violation Against Aero Sky Aircraft Maintenance, Inc. for Contracting with Mahan Air

The Office of Foreign Assets Control issued a finding of violation against the San Antonio, TX-based company for potential violations of the Global Terrorism Sanctions Regulations related to a contract and contingent contract with Mahan Air, a designated Iranian commercial airline company.
December 12, 2019

DOJ: HSBC Private Bank (Suisse) SA Agrees to Pay $192.35 Million for Helping U.S. Citizens Evade Taxes

The U.S. Justice Department entered into a deferred prosecution agreement with the Geneva, Switzerland-based financial institution requiring it to pay a penalty, restitution and forfeiture totaling $192.35 million for helping certain U.S. taxpayers evade their U.S. tax obligations.
December 10, 2019

OFAC: Allianz Global Risks US Insurance Company to Pay $170,535 for Apparent Cuba Sanctions Violations

December 9, 2019

OFAC Fines Chubb Limited $66,212 for Apparent Cuba Sanctions Violations

December 9, 2019

SEC: Telefonaktiebolaget LM Ericsson to Pay Approximately $540 Million to Settle FCPA Allegations

December 6, 2019