- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-03-28T19:32:00
Two members of the House Committee on Oversight and Reform requested Credit Suisse provide information regarding its compliance with U.S. sanctions against several Russian oligarchs, following a media report the Swiss bank requested some documents be destroyed.
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Credit Suisse became the first major Swiss bank to be prosecuted for money laundering in the country after the Federal Criminal Court of Switzerland found the bank guilty of washing money connected to a Bulgarian drug smuggling syndicate.
Credit Suisse announced its latest series of executive-level changes, including the appointment of UBS veteran Markus Diethelm as its new group general counsel.
Less than two months since Russia invaded Ukraine, a range of industries across Europe have issued stark warnings about supply chain shortages, production shutdowns, and price hikes. The worst may still be yet to come, particularly in Germany.
The Treasury Department’s Office of Foreign Assets Control sanctioned nearly 50 entities connected with so-called “shadow banking” networks that help Iran’s military evade U.S. sanctions and to sell the country’s oil and petrochemical products.
The Treasury Department’s Office of Foreign Assets Control and Secretary Janet Yellen announced sanctions Thursday against the top leaders of La Nueva Familia Michoacana drug cartel over the illicit trafficking of synthetic opioid fentanyl in the United States.
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
