U.S. President-elect Donald Trump's pledge to reverse current American sanctions policies for Cuba and Russia is forcing financial institutions to reconsider whether and how to process transactions to and from those countries, say sources.
An accord between Iran and six nations expected to result in the broad suspension of sanctions against the Islamic republic will likely bring questions along with opportunities for banks.
Kenyan officials will remove some money services businesses from a governmental blacklist following evaluations of the companies' compliance controls, according to an individual with direct knowledge of the matter.
The U.S. House of Representatives passed a measure Thursday that would give lawmakers a framework to review the Obama administration's sanctions-related nuclear agreement with Iran.
The U.S. Senate overwhelmingly approved a measure Thursday that would give lawmakers a say in a potential sanctions-related accord with Iran.
American depository institutions' hesitancy to establish links with banks in Cuba is likely to impede newly authorized trade with the country, according to U.S. officials.
The White House announced Tuesday plans to excise Cuba from a list of countries that support terrorism, a step that would remove one of the largest hurdles to U.S. financial ties to the nation.
Iran and six nations outlined a possible permanent accord Thursday that would impose long-term limits on the Islamic republic's nuclear program in exchange for the lifting of nearly all Western and U.N. sanctions.
The United States Monday blacklisted seven former and current Venezuelan military and law enforcement officials for their alleged roles in violent crackdowns on protestors.
Whatever the effectiveness of sanctions meant to sway Russia's involvement in Ukraine, one thing is certain: they've worsened the country's capital flight problem. By year's end, approximately $128 billion will have moved abroad, up from $63 billion in 2013, according to Russia's central bank.
Threatened U.S. sanctions against large swathes of Russian businesses would likely target defense and financial firms ahead of energy companies if imposed, according to experts.
U.S. officials have no plans to negotiate Russia's compliance with an anti-tax evasion law that takes effect this summer and could impose stiff monetary penalties on nonparticipating financial institutions.
U.S. sanctions against 17 Russian individuals and companies, including three banks and the head of one of the nation's largest energy companies, will raise more questions than answers for compliance officers.
Although sanctions on Russian nationals and companies might seem fairly innocuous at first blush, compliance departments at European banks are finding the task of identifying designees unusually difficult, say legal experts.
In announcing sanctions against Russian politicians and one bank Thursday, U.S. officials made clear that American financial institutions should prepare for more, and soon.
Diplomatic tension over Ukraine has raised doubts that the United States will attend an upcoming Moscow plenary of the world's largest anti-money laundering task force, say current and former officials.
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.
U.S. lawmakers will seek to advance a bill next week that would impose sanctions against companies that trade with Iran unless they agree to reduce their ties to the country within 180 days.
A bipartisan group of senators introduced legislation Wednesday that would bar foreign financial institutions that help Iran's central bank circumvent currency restrictions from holding correspondent accounts in the United States.
An American sanctions law passed in December is raising compliance concerns at banks involved in energy sector deals, despite U.S. waivers permitting related transactions, say attorneys and bank officials.