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.
As U.S. officials and bankers debate the merits and drawbacks of an expected $10 billion sanctions settlement with BNP Paribas, their French counterparts are offering a more unified response: outrage.
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 West's financial ties to Russia have given countries pause in considering further sanctions, a Roman judge dropped a money laundering case against the former head of the Vatican Bank and more, in this week's news roundup.
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.
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.
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.
U.S. officials have secretly solicited and, at times, received data from foreign banks on accounts tied to Iranian entities, without notifying the accountholders of the requests, say sources.
Anti-money laundering professionals who have to cope with a lack of resources aren't alone. The United Nations' anti-money laundering efforts are global in reach but also suffer from limited funding, according to Delphine Schantz, the anti-money laundering advisor at the United Nations' GPML.
Federal investigators Thursday arrested a former consultant of a prominent New York management company for allegedly violating U.S. sanctions against Iran through the operation of an unlicensed money transmitting business.
The U.S. Senate won't consider an Iran sanctions bill overwhelmingly approved by the U.S. House of Representatives Tuesday until a negotiation deadline set by the Obama administration expires, say analysts.
The United Kingdom banned British financial institutions Monday from transacting business with an Iranian shipping company and one of Iran's five state-owned banks.
The head of the U.S. Senate Banking Committee will soon introduce a bill to broaden sanctions against financial institutions and other businesses tied to Iran and the country's nuclear ambitions.
A United Nations report that Iran has slowed uranium production and cooperated with some inspections of a nuclear site will do little to dissuade proponents of sanctioning the country, according to a former U.N. inspector.
Iran's decision to cooperate with the U.N.'s nuclear agency is a sign that the country could be prepared to make concessions to avoid further economic sanctions, say analysts.
The result of presidential elections this month in Iran could have a "huge" impact on whether the United States pushes to impose new economic sanctions against Iran, say analysts.
The U.S. government Wednesday blacklisted a fifth Iranian bank for allegedly helping the country build nuclear weapons, the latest move in escalating efforts to hem in Iran and convince Europe to follow suit.