US Lawmakers Enlist Witnesses, FATF in Campaign Against WMD Funding

Rep. Steve Pearce (R-NM) is pictured after leaving the White House on Thursday, June 7, 2018. The lawmaker recently asked congressional witnesses to recommend measures that would prevent the financing of weapons of mass destruction through U.S. financial institutions. (AP Images)



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 U.S. Justice Department (DOJ) entered into a non-prosecution agreement with the Zurich, Switzerland-based financial institution requiring it pay a penalty of $5 million in return for the DOJ’s agreement not to prosecute for tax-related criminal offenses.
The U.S. Securities and Exchange Commission issued a cease and desist order against the Zürich, Switzerland-based financial institution for violations of the Foreign Corrupt Practices Act in connection investment banking business misconduct in the Asia-Pacific region.