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Hundreds of millions flow from Russian Ministry into an obscure Geneva organization — and officials’ pockets

By Olesya Shmagun, OCCRP, 22 July 2020 OCCRP – Though its population barely exceeds 200,000 people, Geneva is one of the world’s most important diplomatic centers. The International Red Cross and the World Health Organization are headquartered in the picturesque Swiss city, along with the second-largest office of the… Read More

Amazon: Prime Time for Penalties

On July 8th, the Office of Foreign Assets Control (OFAC) announced a settlement agreement with Amazon.com, Inc (“Amazon”) for a large number of violations across a wide spectrum of OFAC’s sanctions programs (the agreement published by OFAC lists 14 sets of regulations and Executive Orders). While the total amount… Read More

Trump administration orders Marriott to cease Cuba hotel business

The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been a symbol of the U.S.-Cuban detente. Starwood Hotels, now owned by Marriott, four years ago became the first U.S. hotel company to sign a deal with… Read More

15th May 2020

U.S. considers returning Cuba to list of state sponsors of terrorism – source

The United States is considering returning Cuba to its list of state sponsors of terrorism, a senior Trump administration official told Reuters on Thursday, a move that would mark another major blow to increasingly tense relations between Washington and Havana. There is a “convincing case” that Cuba should be placed… Read More

12th May 2020

Biomin America Fined for Alleged Sanctions Violations

The U.S. division of a global maker of animal feed additives reached a settlement with the Treasury Department over possible sanctions violations—a case that underscores the importance of maintaining a compliance program and seeking guidance from regulators. Biomin America, which agreed to pay about $258,000 in the settlement, and its… Read More

5th May 2020

Banks deal with heightened sanctions risks, compliance hiccups amid pandemic

Banks face longer transaction processing times and possible sanction violations as the coronavirus crisis puts pressure on their compliance control functions, experts warn. Customers’ rapidly changing supply chains are a growing concerns for banks. As lockdown measures are causing logistical challenges, businesses must increasingly change third-party providers at short notice,… Read More

30th April 2020

Nordic Noir: Understanding the Swedbank Saga

At times it can seem as if Swedbank’s recent history has been taken from the plot of a Nordic noir novel. There is a procedural bleakness to the Swedish bank’s money laundering scandal and a complexity to it all that does little to resolve the moral ambiguities of institutional malfeasance. Read More

14th April 2020

UK tobacco giant faces sanctions inquiry

British American Tobacco is under criminal investigation by regulators in the United States over suspected sanctions-busting. The Department of Justice and the Office of Foreign Assets Control, a financial intelligence and enforcement agency that is part of the Treasury department, are investigating “suspicions of breach of sanctions”. It is not… Read More

27th March 2020

8 countries under unilateral sanctions ask UN chief for help

AP — Eight countries under unilateral sanctions, mainly from the United States and European Union, urged U.N. Secretary-General Antonio Guterres on Thursday to request the immediate and complete lifting of those measures to enable the nations to respond to the coronavirus pandemic. In a joint letter obtained by The Associated Press,… Read More

24th March 2020

Virus fuels calls for sanctions relief on Iran, Venezuela

AP — From Caracas to Tehran, officials are calling on the Trump administration to ease crippling economic sanctions they contend are contributing to the growing death toll caused by the coronavirus pandemic. The idea has gained support from prominent leftists in the U.S., including Democratic presidential candidate Bernie Sanders, who… Read More

27th February 2020

Trump sanctions, lawsuits hit Cuba hard: It can’t even buy planes, transport minister says

The Trump administration’s campaign of “maximum pressure” on Cuba has hit the country so hard that foreign companies refuse to sell planes to the island’s government and ships refuse to dock at its ports, the Cuban minister of transportation says. In a remarkably candid appearance on Cuban television Tuesday night,… Read More

6th February 2020

Britain’s Metro Bank hires lawyers over Cuba and Iran sanctions breaches

Britain’s Metro Bank has hired a law firm to help it investigate payments routed through the bank that breached U.S. sanctions, a regulatory filing showed. One Metro bank customer was subject to U.S. sanctions on Cuba, while another received payments from Iran, the bank said. The Evening Standard newspaper reported… Read More

3rd January 2020

U.S. slaps sanctions on Cuba defense minister over support for Venezuela’s Maduro

The United States imposed sanctions on Thursday on Cuba’s defense minister, accusing him of human rights violations and supporting socialist Venezuelan President Nicolas Maduro, Secretary of State Mike Pompeo said in a statement. Washington blacklisted Leopoldo Cintra Frias, minister of the Revolutionary Armed Forces of Cuba (MINFAR), and his children,… Read More

Must Read

Europol: global sport under ‘greater risk’ of match fixing

UN experts: North Korea flouts sanctions on nukes, missiles

Trump’s Bank Was Subpoenaed by N.Y. Prosecutors in Criminal Inquiry

Ex-Genneva directors, five others jailed, fined for money laundering, illegal deposit taking

Interpol reveals ‘alarming rate’ of cyberattacks during Covid-19