The US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued a raft of new sanctions under its Magnitsky human rights sanctions program. Belarusian President Alexander Lukashenko and his wife have been sanctioned for “gross violations of human rights […]
President Biden has issued a long-awaited Executive Order (EO) detailing broad plans to create a framework for the regulation of cryptoassets in the US. The EO represents the US’ first whole-of-government approach to addressing the risks and harnessing the potential […]
A Chicago woman has been convicted of fraud and tax offenses after cashing her dead grandmother’s pension checks and creating false tax returns. The Justice Department reports that Eunice Salley (aka Eunice Sally Dobyns, aka Oya Awanata-Bey, aka Oya Awanata) […]
South Korea’s largest telecom provider is to pay $6.3m to settle a US Securities and Exchange Commission (SEC) action over alleged bribes. KT Corp, which is publicly traded and listed on the New York Stock Exchange, engaged in multiple schemes […]
The US Commerce Department’s Bureau of Industry and Security (BIS) has added 33 China-based businesses to its Unverified List (UVL) – highlighting potential export risks. The aim is to demonstrate that US exporters should conduct additional due diligence and assess […]
A bill containing extensive sanctions on persons and entities in Ethiopia has been advanced by Congress, in a bipartisan move to try and end atrocities in the region. The bill would impose sanctions on anyone who undermines peace, security or […]
As Russia amasses 100,000 troops near Ukraine’s border, the Biden administration looks likely to target banks as part of a torrent of economic sanctions in the event of an invasion. Increasing friction in the region comes eight years after Russia […]
The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed new measures to allow banks to share suspicious activity reports (SARs) more easily with foreign branches, subsidiaries and affiliates. In a Notice of Proposed Rulemaking (NPRM) FinCEN has asked for […]
The Financial Crimes Enforcement Network (FinCEN) is considering creating regulatory ‘sandboxes’ to help firms experiment with new technologies. Himamauli Das, Acting Director of FinCEN, told a virtual conference on financial crime enforcement, that the regulator was considering how to innovate […]
The volume of cryptocurrency transactions grew to $15.8trn in 2021, up 567% from 2020, another sign that the trading of digital assets is becoming increasingly mainstream. Highlights from a new report from blockchain data platform Chainalysis show illicit crypto transactions […]
Airbnb Payments, a subsidiary of rental company Airbnb, will pay $91,172 for alleged violations of sanctions against Cuba, the US Office of Foreign Assets Control (OFAC) has announced. OFAC, which implements and enforces US sanctions, says the company processed payments […]
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned eight firms that “actively support the biometric surveillance and tracking of ethnic and religious minorities in China.” This includes Xinjiang, a key focus for policymakers concerned […]
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