by Jyotsna Bucktowar | Jul 26, 2024
Neglecting to establish and update written compliance policies approved by a senior officer breaches of the proceeds of crime regulations. Moreover, failing to assess and document ML or terrorist financing risks, considering prescribed factors…...
by Jyotsna Bucktowar | Jul 26, 2024
The notice provides answers to key questions about: (1) reporting beneficial ownership information to FinCEN under the Corporate Transparency Act; and (2) providing beneficial ownership information to financial institutions in connection with Federal customer due...
by Jyotsna Bucktowar | Jun 4, 2024
Russian President Putin issued Decree No. 442, establishing a mechanism to seize US assets within Russian territory and compensating the Russian Federation and Central Bank for losses caused by US decisions…
by Jyotsna Bucktowar | May 28, 2024
Any act which would otherwise breach the prohibitions in Regulations 11 to 15, 17 and 17A of the Russia Regulations is exempt from those prohibitions to the extent required to give effect to the permissions in this licence.
by Jyotsna Bucktowar | May 25, 2024
OFSI reissued General Licence under Regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019 which is subject to certain conditions which allows a person to make use of the retail banking services of a designated Credit or Financial Institution provided that...
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