17th September 2020
Zineb Jammeh, the wife of Gambia’s former president, Yahya Jammeh, has been hit with U.S. sanctions for her role in the economic plunder of the tiny West African county during her husband’s 22-year rule, the U.S. Treasury said on Tuesday. Yahya Jammeh stole at least $50 million of state funds… Read More
17th September 2020
The U.S. Treasury on Tuesday imposed sanctions on China’s Union Development Group, the company behind the controversial Dara Sakor tourism development on Cambodia’s coast. The Treasury’s stated reason was that UDG intimidated and evicted families from their homes on the company’s 45,000 hectare concession to make way for the development… Read More
17th September 2020
The Financial Action Task Force (FATF) has prepared a report on red flag indicators to assist financial institutions, investigating agencies and regulators in detecting misuse of virtual assets for money laundering, terrorist financing and other crimes. Virtual assets, which also include cryptocurrencies, are defined as a digital representation of… Read More
16th September 2020
By Will Neal, OCCRP, 14 September 2020 OCCRP – Prosecutors in the United States have indicted three people on charges of bank fraud and money laundering related to an alleged conspiracy to violate sanctions against North Korea. According to an affidavit filed on Monday in Washington, D.C., Ri… Read More
15th September 2020
Federal regulators are preparing to reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and anything else that could harm the bank. The expected rebuke from the Office of the Comptroller of the Currency and… Read More
15th September 2020
International perpetrators of genocide and torture, but not corruption, are to face new-model EU sanctions, a leaked document shows. Those guilty of crimes against humanity, slavery, extrajudicial killings, enforced disappearances, and arbitrary arrests will also face EU asset-freezes and visa-bans. And those responsible for human-trafficking, sexual violence, and abuses of… Read More
15th September 2020
The United States has accused two Chinese shell companies of helping China’s technology giant ZTE sell banned telecommunications equipment to North Korea. According to a criminal complaint unsealed on Friday, Ryer International Trading and Rensy International Trading served as go-betweens for ZTE, which sold the equipment – allegedly made… Read More
14th September 2020
A U.S. unit of Deutsche Bank AG paid a fraction of the maximum penalty it could have faced to settle alleged sanctions violations, as the Treasury Department pointed to the bank’s compliance efforts and cooperation as mitigating factors. Deutsche Bank Trust Co. Americas agreed to pay $583,100 in settlements… Read More
11th September 2020
The U.S. Department of Treasury announced on Wednesday that the largest German investment and financial services provider Deutsche Bank has agreed to pay two settlements totaling US$583,100 for facilitating transactions that violated Ukraine-related sanctions. According to the department’s Office of Foreign Assets Control (OFAC) enforcement release, Deutsche Bank would… Read More
11th September 2020
Michael Jordan, Sandra Bullock and Paris Hilton holiday there. Justin Timberlake and Janet Jackson wrote lyrics about it. But, last week, the Caribbean island of Anguilla drew attention for other reasons. The paradisiacal tax haven slipped further down a key global transparency index, according to a new report by… Read More