State of Financial Crime 2023 Report

The Americas

On December 30, 2022, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement with Danish multinational Danfoss for apparent Iran, Syria, and Sudan sanctions violations. According to the enforcement release, Danfoss agreed to […]

On December 7, 2022, the US Senate voted not to include the Establishing New Authorities for Businesses Laundering and Enabling Risks to Security (ENABLERS) Act in the 2023 defense budget. Initially introduced by a group of bipartisan lawmakers following the […]

On November 15, 2022, the US-China Economic and Security Review Commission (USCC) released its annual report to Congress. Among the report’s concluding recommendations, the committee proposed creating a cross-agency body tasked with drafting sanctions against China in the event of […]