The US government first imposed economic sanctions against Cuba on February 7th, 1962, in response to the Cuban government’s political alignment with the Soviet Union and its ongoing efforts to undermine democratic processes. Implemented by President Kennedy under the terms […]
What does the Mexican Unidad de Inteligencia Financiera do? Created in 2004, the Mexican Unidad de Inteligencia Financiera (UIF) is a government agency focused on detecting and preventing financial crimes such as money laundering and terrorist financing. The UIF is […]
The Conselho de Controle de Atividades Financeiras (COAF) is Brazil’s national Financial Intelligence Unit (FIU) and is the supervisory body responsible for fighting financial crime. Founded in 1998 and headquartered in the capital city, Brasilia, COAF is part of Brazil’s […]
The effects of the Foreign Account Tax Compliance Act on foreign acounts The Foreign Account Tax Compliance Act (FATCA) is a federal law designed to counter tax evasion in the United States. Introduced in 2010, FATCA imposes a range of […]
In the wake of the 2008 financial crisis, the US government looked at ways to better regulate the behavior of banks, and to protect consumers. The subsequent Dodd-Frank Act became one of the most important articles of US financial legislation, introducing new […]
The Financial Crimes Enforcement Network (FinCEN) is the United States’ primary financial regulator. It is responsible for supervising financial institutions (FIs) and ensuring banks and other service providers comply with anti-money laundering and counter-financing of terrorism (AML/CFT) laws. Established in […]
Money laundering and terrorist financing (ML/TF) pose a substantial threat to governments and financial institutions. Over the past few decades, increasing measures have been taken across the globe to counter them. In 2022, the EU moved forward in its bid […]
The Office of Foreign Assets Control (OFAC) is responsible for creating, implementing and enforcing the United States’ sanctions. All parties under US jurisdiction must abide by OFAC sanctions and associated regulations and avoid OFAC sanctions violations. Exemptions to sanction orders […]
One of the ways the US punishes violations of international law, human rights abuses, and other state-sponsored criminal activities is by imposing economic sanctions against countries, entities, and individuals. The OFAC sanctions regime is implemented and enforced by a dedicated branch of […]
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