Featured Sanctions

ING Bank Worked for Russian Money Laundering Network

Over the past decade, ING Bank has carried out billion-dollar transactions for companies from one of the largest Russian money laundering networks ever exposed. This puts the bank in a similar position to Deutsche Bank and Danske Bank, whose involvement in the network has previously been exposed. The German bank… Read More

FinCEN Files: UAE central bank failed to prevent sanctions evasion

The United Arab Emirates’ central bank failed to act on warnings about a local firm which was helping Iran to evade sanctions, the BBC has found. Leaked documents show Dubai-based Gunes General Trading processed $142m (£110m) in suspicious transactions through the UAE financial system in 2011 and 2012. The activity… Read More

FinCEN Files: Global banks defy U.S. crackdowns by serving oligarchs, criminals and terrorists

ICIJ — Secret U.S. government documents reveal that JPMorgan Chase, HSBC and other big banks have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world. The records show that five global… Read More
21st September 2020
BuzzFeed News — When Robert Meltzer, who runs gyms for children in Los Angeles, found that more than $60,000 in payroll taxes — half a year’s worth — had gone missing in 2013, it was too late. When something similar happened to Stanford Media Group, a company that sold CDs… Read More
21st September 2020
One of Vladimir Putin’s closest friends may have used Barclays Bank in London to launder money and dodge sanctions, leaked documents suggest. Billionaire Arkady Rotenberg has known the Russian president since childhood. Financial restrictions, or sanctions, were imposed on Mr Rotenberg by the US and the EU in 2014,… Read More
21st September 2020
North Korea carried out an elaborate money laundering scheme for years using a string of shell companies and help from Chinese companies, moving money through prominent banks in New York, according to confidential bank documents reviewed by NBC News. Wire transfers from North Korean-linked companies with opaque ownership sometimes came… Read More
21st September 2020
Over the strenuous objections of its closest allies, the Trump administration reimposed United Nations sanctions against Iran on Saturday, though the weight of their repercussions is unclear without the cooperation of the world’s other major powers. In an evening statement, Secretary of State Mike Pompeo announced the “return of virtually… Read More
21st September 2020
By Tom Stocks, Daniela Castro, Kelly Bloss and Adam Klasfeld, OCCRP, 20 September 2020 OCCRP — Best known for laundering billions of dollars for Iran, notorious gold smuggler Reza Zarrab’s ties to Russia received only passing mention when he was prosecuted in the U.S. in 2016. That was a huge… Read More
21st September 2020
HSBC and Standard Chartered are bracing for a renewed US sanctions assault on China, amid official concern that escalating diplomatic tensions threaten collateral damage in the City. They are working on contingency plans for a worst-case scenario in which the political and trade disputes between Washington and Beijing trigger restrictions… Read More
21st September 2020
Chinese regulators on Saturday introduced a sanctions regime targeting foreign companies operating in China, in a long-anticipated move seen as reciprocation for US policy targeting Chinese firms like Huawei. China’s Ministry of Commerce said the “unreliable entities list” will contain foreign companies that Beijing says “harm China’s national sovereignty, security,… Read More
21st September 2020
A Mexican court has unfrozen the bank accounts of a local company blacklisted by the United States for trading in oil with Venezuelan state oil firm PDVSA despite U.S. sanctions, Mexico’s anti-money laundering unit said on Saturday. In a statement, Mexico’s Financial Intelligence Unit (UIF) said it disagreed with the… Read More
18th September 2020
Somali money transfer companies moved more than $3.7 million in cash between suspected weapons traffickers in recent years, including to a Yemeni under U.S. sanctions for alleged militant links, according to a report seen by Reuters. The findings by a Geneva-based research group, the Global Initiative Against Transnational Organized Crime,… Read More
18th September 2020
The United States rolled out sweeping new sanctions on Thursday, blacklisting cyber actors the Donald Trump administration says are backed by Iranian intelligence and Lebanon-based targets it says are linked to Hezbollah. The US Department of Treasury sanctioned two Lebanon-based companies, Arch Consulting and Meamar Construction, for alleged links to the… Read More