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Economic Sanctions

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US Treasury publishes 2024 National Terrorist Financing Risk Assessment

Consistent with the 2022 risk assessment, the most common financial connections between individuals in the United States and foreign terrorist groups entail individuals directly soliciting funds for or attempting to send funds to foreign terrorist groups utilizing cash, registered money services businesses, or in some cases, virtual assets.The report also discusses Hamas and the ways they exploit the international financial system, including through solicitation of funds from witting and unwitting donors worldwide…

US Treasury sanctions Ecuador’s notorious Los Choneros gang and its leader

OFAC’s action follows a steep rise in violence in Ecuador attributed to the actions of Los Choneros and other drug trafficking gangs in the country.

US Treasury sanctions transnational procurement network supporting Iran’s ballistic missile and UAV programs

The four Iran- and Hong Kong-based entities designated have operated as covert procurement entities for OFAC designated Hamed Dehghan and Pishtazan Kavosh Gostar Boshra (PKGB), who are actively engaged in supporting multiple Iranian military organizations, including the Islamic Revolutionary Guard Corps (IRGC). Additionally, OFAC is designating a Hong Kong-based front company involved in the sale of hundreds of millions of dollars’ worth of Iranian commodities for the benefit of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).

EU sanctions five Guatemalan officials for undermining democracy and rule of law

The Council of EU has imposed sanctions on five Guatemalan officials, including Attorney General María Consuelo Porras Argueta De Porres, for undermining democracy, the rule of law, and the peaceful transfer of power in Guatemala. The sanctions involve an asset freeze and a travel restriction barring entry into the EU. The other officials are Ángel Arnoldo Pineda Ávila, José Rafael Curruchiche Cucul, Leonor Eugenia Morales Lazo De Sánchez, and judge Fredy Raúl Orellana Letona, all accused of actions threatening democratic governance…

FinCEN issues alert on Israeli extremist settler violence against Palestinians in the West Bank

While the alert highlights the potential involvement of certain nonprofit organizations (NPOs) in facilitating payments to fund violence in the West Bank, FinCEN continues to emphasize that legitimate charities should have access to financial services and can transmit funds through legitimate and transparent channels.

FCDO imposes fresh sanctions on Myanmar military

Covers 2 Myanmar military divisions responsible for carrying out serious human rights violations and 2 state-owned enterprises which provide economic resources and support to the Myanmar security forces.

OFAC tightens price cap policy restrictions by updating guidance and imposing additional sanctions

OFAC strengthened enforcement of the price limit on Russian oil, updating guidelines to ensure stricter confirmation and record-keeping procedures and imposed sanctions on a Russian government-owned ship manager and some less-known oil trading companies involved in transporting Russian oil by sea, violating the price cap…

UK warns of criminal exploitation of the artwork storage facilities

The alert emphasizes the necessity for the art sector to perform routine due diligence assessments to monitor any alterations in a client’s situation. Criminals, including those under sanctions, exploit these services to evade sanctions and…

US and UK target Houthi military officials for supporting acts of terrorism

Today’s action targets four individuals who have supported the Houthis’ recent attacks against commercial vessels in the Red Sea and Gulf of Aden, including holding civilian crews hostage. Concurrent with OFAC’s designations, the United Kingdom is also imposing sanctions on these key figures of Houthi forces.

US Department of Treasury leads global sanctions against Russian cybercriminal for Medibank attack

The U.S., Australia, and the UK have jointly sanctioned Russian cybercriminal Alexander Ermakov for the 2022 Medibank ransomware attack, intensifying global efforts against cybercrime…

US, UK, and Australia target additional Hamas financial networks and facilitators of virtual currency transfers

The U.S. Treasury’s OFAC, alongside the UK and Australia, has issued new sanctions targeting Hamas’s financial networks in Gaza, focusing on cryptocurrency transfers and money laundering activities linked to Iran’s IRGC-QF…

US Treasury targets Kata’ib Hizballah leaders and airline enabling IRGC-QF and militant proxy groups

Targets Iraqi airline Fly Baghdad and its CEO for providing assistance to the IIRGC-QF and its proxy groups in Iraq, Syria, and Lebanon. Three leaders and supporters of one of the IRGC-QF’s main Iran-aligned militias in Iraq, Kata’ib Hizballah (KH), as well as a business that moves and launders funds for KH, are also targeted.