- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-02-24T16:45:00
The Treasury Department’s Office of Foreign Assets Control (OFAC) marked the one-year anniversary of Russia’s invasion of Ukraine by unveiling a slew of new sanctions against financial services firms and individuals that either support Russia’s war effort or have been judged to be undermining existing U.S. sanctions.
OFAC on Friday announced new sanctions against 22 individuals and 83 entities, taken in coordination with its allies and G7 partners.
“Sanctioned actors have been known to turn to smaller banks as well as wealth management firms in an attempt to evade sanctions as Russia seeks new ways to access the international financial system,” the agency stated in a press release.
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2023-12-22T15:10:00Z By Kyle Brasseur
Insurance organization Privilege Underwriters Reciprocal Exchange agreed to pay $466,200 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
2023-04-13T18:49:00Z By Aaron Nicodemus
The International Investment Bank, a multinational development institution headquartered in Hungary, was designated by the Office of Foreign Assets Control for potentially facilitating the evasion of U.S. sanctions against Russia.
2023-03-06T20:01:00Z By Aaron Nicodemus
The Bureau of Industry and Security, Office of Foreign Assets Control, and Department of Justice issued guidance to highlight common methods bad actors use to evade sanctions and export controls on Russia and how to spot their use.
2025-04-01T16:04:00Z By Aaron Nicodemus
The Trump administration has taken two actions to attack money laundering rings operating in Mexico, highlighting the U.S. government’s focus on curbing the fentanyl trade and the illegal profits it generates.
2025-02-10T16:42:00Z By Neil Hodge
The U.K.’s Serious Fraud Office has made its first use of an enforcement tool that was meant to bring oligarchs and kleptocrats to book. But lawyers are unsure whether the move signifies either a change in direction or fortune for the agency.
2024-12-05T13:00:00Z By Ruth Prickett
The EU and U.K. have rushed to commit themselves to intensifying action on sanctions evasion after U.S. President-elect Donald Trump’s victory, but any compliance managers who believe Trump will make global sanctions compliance easier in 2025 are likely to be disappointed.
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