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The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department issued a notice concerning the addition of more than 250 individuals and entities to the Specially Designated Nationals (SDN) List with respect to Russia. The notice also includes amendments to several sanctions entries. The...
The U.S. Treasury Department announced a new round of sanctions targeting Russia for its ongoing war against Ukraine and plans to annex additional regions of Ukraine. The press release highlights the addition of 278 members of the Russian legislature as well as 14 individuals in Russia’s military ...
The government of Australia published an amended version of the Proceeds of Crime Act (POCA) that includes updates in force as of Sept. 28, 2022. The amended legislation covers the following topics: national unexplained wealth provisions; freezing orders; restraining orders; forfeiture orders; pecun...
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) published new sanctions guidance for instant payment systems. OFAC highlights that the speed and amount of transactions associated with such systems raise inherent challenges. Accordingly, the guiding document focuses on reduci...
The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department entered into a settlement agreement with the Seattle, Washington-based company for its apparent violations of multiple U.S. sanctions programs. As part of the settlement agreement, Tango Card, Inc. (Tango Card), agreed to pa...
The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department reissued a final rule concerning the U.S.’s Libya sanctions regime. The new Libyan Sanctions Regulations, which were originally released in 2011 in an abbreviated form, include additional sanctions and information. Specifi...
The Office of Foreign Assets Control (OFAC) released a cumulative list of changes made to the list of Specially Designated Nationals (SDN) and Blocked Persons between Jan. 1, 2022, and Oct. 3, 2022. OFAC regularly publishes notices of changes to the various sanctions programs administered by the reg...
The U.S. financial intelligence unit finalized the first of three beneficial ownership-related rules as mandated by the Anti-Money Laundering Act and Corporate Transparency Act in January 2021, ACAMS moneylaundering.com reported. More U.S. officials blacklisted Elvira Sakhipzadovna Nabiullina, the g...
The United Kingdom's Office of Financial Sanctions Implementation (OFSI) added one new entry to its sanctions list pertaining to Russia and amended two existing entries. The following individual has been added to the Russia sanctions list and she is now subject to an asset freeze: Elvira Sakhipzadov...