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US Treasury Sanctions Official Linked to Corruption in Serbia

July 11, 2023

The designation of Aleksandar Vulin (Vulin) underscores the US determination to hold accountable those engaged in corrupt dealings that further their own political agendas and personal interests at the expense of peace and stability in the Western Balkans. These corrupt…

FINRA fines Merrill Lynch $6m for longstanding AML program failures

July 11, 2023

Merrill Lynch failed to apply the correct threshold to report suspicious activities for more than 10 years and, as a result, failed to file nearly 1,500 Suspicious Activity Reports (SARs).

US and UK issues joint fact sheet on Russia-related sanctions to support humanitarian aid and food security

June 28, 2023

The Factsheet will provide additional clarity on Russia-related sanctions and the relevant authorizations, exceptions and public guidance issued by the US and UK. The fact sheet is intended to serve as a guide for humanitarian actors, non-governmental organizations…

OFAC targets Wagner Group revenue sources

June 27, 2023

OFAC sanctioned four companies and one individual connected to the violent Russian military group PMC Wagner and its founder and owner Yevgeniy Prigozhin, previously sanctioned by the US, the EU, Canada, and the UK. The Wagner Group exploits insecurity around the world…

OFAC enters Settlement Agreement with Swedbank Latvia for $3,430,900 related to apparent violations of Crimea Sanctions

June 20, 2023

Swedbank Latvia has agreed to remit $3,430,900 to settle its potential civil liability for 386 apparent violations of OFAC’s Crimea sanctions. Throughout 2015 and 2016, a customer of Swedbank Latvia used Swedbank Latvia’s e-banking platform from an internet protocol address…

The White House issues Fact sheet on the ongoing efforts to stem firearms trafficking to Mexico

June 14, 2023

Drug traffickers’ supply of firearms enables them to grow their enterprises and move deadly drugs, including illicit fentanyl, into the US. They use these weapons, which consist of everything from handguns to high caliber and assault weapons, against the Mexican people…

FinCEN and South African Financial Intelligence Centre host Task Force meeting on Combatting the Financing of Wildlife Trafficking and Terrorist Finance Dialogues

June 13, 2023

FinCEN’s participation in the Task Force reinforces the U.S. Government’s commitment to protect wildlife populations from further poaching and disrupt the associated illicit trade through the identification and seizure of the proceeds generated from the wildlife trafficking…

U.S-UK issue Joint Statement on the announcement that both countries have committed in principle to establish a data bridge

June 9, 2023

A U.S-UK data bridge would uphold the rights of data subjects, facilitate responsible innovation, and provide individuals in both countries greater access to the services that suit them, whilst reducing the burdens on businesses and delivering better outcomes for people…

The White House delivers message to the Congress on the continuation of the national emergency with respect to Belarus

June 9, 2023

The actions and policies of certain members of the Government of Belarus and other persons, and the Belarusian regime’s harmful activities and long-standing abuses, continue to pose an unusual and extraordinary threat to the national security and foreign policy of the US…

SEC files 13 charges against Binance, Founder Changpeng Zhao and other related entities

June 8, 2023

The charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities. The entities engaged in an extensive web of deception…

U.S Department of the Treasury announces framework to promote fairer, more equitable compliance across programmes and services

June 8, 2023

The Treasury announced a new effort to help ensure fairness and increase transparency in the Department’s compliance and enforcement practices, which is intended to provide a roadmap for Department bureaus and offices to guide their compliance and enforcement efforts…

FinCEN issues Beneficial Ownership Information Reporting Guidance

March 24, 2023

The new regulations require many corporations, limited liability companies, and other entities created in or registered to do business in the United States to report information about their beneficial owners, the persons who ultimately own or control the company to FinCEN…