A top commander in South Sudan's People's Liberation Army managed to embezzle and launder millions from the world's youngest state with the help of a U.S. dollar-denominated account, a global advocacy group claimed in a report Wednesday.
Sources in Sudan and the United States believe American officials may roll back sanctions against the North African country, which has been subject to a comprehensive U.S. trade embargo for nearly 20 years.
French prosecutors have dropped a money laundering investigation against an Iranian dissident group, a new set of AML rules is increasing the pressure on Chinese banks to flag suspicious activity, and more, in the midweek roundup.
The U.S. Treasury Department Wednesday fined Branch Banking & Trust Co. more than $19,000 for breaking federal rules against transacting with blacklisted Sudanese nationals.
Ongoing negotiations between U.S. officials and France's largest bank that could result in a monetary settlement of more than $1 billion involve violations of sanctions against Iran and Sudan, say sources.
A law enforcement and regulatory probe into potential sanctions violations by BNP Paribas centers on transactions tied to Sudan, according to an individual with direct knowledge of the matter.
The U.S. Treasury Department Thursday will lift economic restrictions against Sudan that have hampered the growth of the Republic of South Sudan's oil sector and the role of banks in the region.
Eager to lure new foreign investments, the world's newest nation still faces an uphill battle against the economic sanctions it technically freed itself from in July, say analysts.
Any changes to U.S. economic sanctions policies on Sudan and Myanmar will be slow moving, if they occur at all, despite recent diplomatic overtures and speculation, say analysts.
Sudan announced it may close the U.S embassy in Khartoum in retaliation for the U.S governments failure to help the Sudanese Embassy in Washington, D.C. obtain banking services in the United States.