- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-04-22T16:00:00
The Treasury Department’s Office of Foreign Assets Control sanctioned two Israeli entities for establishing fundraising campaigns for extremists fomenting violence in the West Bank.
OFAC designated Mount Hebron Fund and Shlom Asiraich for generating $140,000 and $31,000, respectively, on behalf of Yinon Levi and David Chai Chasdai, both of whom were designated in February for allegedly leading a riot that resulted in the death of a Palestinian civilian.
“Mount Hebron Fund and Shlom Asiraich generated tens of thousands of dollars for extremists responsible for destroying property, assaulting civilians, and violence against Palestinians,” said Deputy Secretary of the Treasury Wally Adeyemo in a press release Friday.
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The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
A subsidiary of Thailand-based SCG Chemicals Co. agreed to pay a $20 million fine to the Office of Foreign Assets Control over “egregious” violations of sanctions against Iran.
The Treasury Department announced new sanctions against Iran, with Treasury Secretary Janet Yellen promising “further actions in the days and weeks ahead” following the Middle East nation’s attack on Israel.
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.
With a new political regime ready to take over in the U.S., the effectiveness of sanctions against malign foreign actors like Russia, North Korea, and Iran have come into question. While the European Union and U.K. have increased sanctions pressure, critics have publicly asked: Is it enough?
The U.K. has issued 56 new sanctions against entities and individuals involved with Russia’s war effort, including several private mercenary groups operating in Africa that are connected to the Kremlin.
