The House Committee on Foreign Affairs Thursday unanimously approved a measure that would penalize foreign banks that offer financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
U.S. officials Tuesday charged a blacklisted Chinese national with using shell companies to maintain accounts at American banks and offered five million dollars for information on his whereabouts.
The financial clearing subsidiary of Deutsche Börse AG will pay the U.S. Treasury Department's sanctions enforcer $152 million for holding money in New York-based accounts on behalf of Iran's central bank.
As early as Monday, banks will be able to do what has become seemingly unthinkable in the sanctions compliance field during recent years: ramp up their ties to Iran.
The chairman of a Senate committee vowed Thursday to block additional sanctions against Iran in an effort to protect last month's multilateral accord to suspend portions of the country's nuclear program.
Western financial institutions won't radically amend their sanctions controls in response to an agreement to limit Iran's nuclear program in exchange for a relaxation of banking restrictions, say former officials.
Despite tightened controls on interbank messaging, some bankers looking to hide the role of their blacklisted clients in international wires need only type a single key on their keyboard, according to experts.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
The U.S. House of Representatives Wednesday approved legislation that would limit White House-granted waivers to nations that purchase oil from Iran under a 2011 sanctions law.
Growing economic and political ties between Argentina and Iran are prompting some bank compliance officers to look more closely at their clients in the South American nation, say industry professionals.
The U.S. House of Representatives Wednesday overwhelmingly approved bills that would restrict loans and interbank transfers of credit involving entities that facilitate Iran's petroleum and weapons trade.
A U.S. official's threat last month of economic sanctions against four Chinese banks is likely to be toothless given economic and enforcement hurdles, say sanctions analysts.
European banks are asking the U.S. Treasury Department to amend proposed regulations that would require them to conduct three-month look-backs within 30 days of a request by American officials.
The U.S. Treasury Department proposed rules Wednesday that would require banks to inform the government of whether their foreign counterparts hold accounts for blacklisted Iranian institutions and organizations.
The U.S. Treasury Department Thursday blacklisted an Iran-based bank for facilitating the purchase of millions of dollars worth of missiles and other weapons for the country's military.
Recent congressional disclosures and leaked diplomatic cables highlight the difficulties the United States faces in convincing even stalwart allies to enforce economic sanctions against Iran, say analysts.
More than 100 large U.S. banks have correspondent relations with foreign financial institutions actively doing business with blacklisted Iranian banks, a London-based consulting firm will announce this week.
Domestic banks and foreign financial institutions with U.S. branches are scrambling to comply with a tough new U.S. law and subsequent regulations designed to cripple the Iranian financial system, say analysts.
Lawmakers passed a tough new sanctions measure against Iran Thursday that would require U.S. banks to determine whether the foreign financial institutions they have correspondent relationships with bank certain Iranians.