Featured USA

New York Fed cracks down on Puerto Rico banks following Venezuela sanctions

U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico’s $50 billion offshore banking industry, according to four sources and a document seen by Reuters. The development will prevent the island’s offshore banks, several of which are owned by citizens of crisis-stricken Venezuela,… Read More

FinCEN Issues First Penalty Against P2P Cryptocurrency Exchange

The U.S. Treasury Department’s financial intelligence unit fined a California man for running an unlicensed Bitcoin money services firm, marking the bureau’s first-ever monetary penalty against a peer-to-peer virtual currency exchange. The $35,000 fine against Eric Powers of Kern County, Calif. comes six years after the Financial Crimes Enforcement… Read More

U.S. will not prosecute Miami gold refinery after money laundering probe

The U.S. Attorney’s Office said it has agreed not to prosecute one of the country’s biggest gold refineries, Republic Metals Corporation (RMC), after an investigation into possible money laundering. The probe is part of a broader crackdown by U.S. authorities on imports of gold from South American countries such as… Read More
18th April 2019
By William M. LeoGrande, American University School of Public Affairs The Trump administration has declared the most severe new sanctions against Cuba since President John F. Kennedy imposed an economic embargo banning all trade with the communist island in 1962. Speaking in Miami on April 17,… Read More
18th April 2019
The Trump administration on Wednesday announced sanctions restrictions targeting Venezuela, Cuba and Nicaragua, including a designation of Venezuela’s central bank and pending limits on Cuban remittances. The administration added Banco Central de Venezuela to its Specially Designated Nationals (SDN) List to “prevent it from being used as a tool of… Read More
18th April 2019
New York-based cryptocurrency compliance startup Chainalysis has raised $6 million in funding from Japanese financial group Mitsubishi UFJ Financial Group Inc and venture capital firm Sozo Ventures, the company said on Tuesday. Chainalysis hopes the strategic investment will help it further its expansion plans in Asia, Chief Executive Michael Gronager,… Read More
17th April 2019
The Trump administration will allow lawsuits in U.S. courts for the first time against foreign companies that use properties confiscated by Communist-ruled Cuba since Fidel Castro’s revolution six decades ago, a senior U.S. official said on Tuesday. The major policy shift, which will be announced on Wednesday, could expose U.S.,… Read More
17th April 2019
AP — Syrians in government-controlled areas who have survived eight years of war now face a new scourge: widespread fuel shortages that have brought life to a halt in major cities. Cars line up by the hundreds outside petrol stations, and long lines of people waiting to buy rationed cooking… Read More
17th April 2019
AP — Turkey “expects” the Trump administration to grant it waivers from U.S. sanctions related to its purchases of Iranian oil and Russian air defenses, a top aide to Turkish President Recep Tayyip Erdogan said Tuesday. Presidential spokesman and senior adviser Ibrahim Kalin told a news conference he couldn’t be… Read More
16th April 2019
A UniCredit Group affiliate bank will plead guilty to US federal and state criminal violations and pay $1.3 billion to regulatory and prosecutorial agencies to resolve breaches of sanctions against Iran and other nations, officials disclosed. Under terms of a non-prosecution agreement with the US Justice Department, the group’s German… Read More
16th April 2019
Democratic lawmakers on Monday issued a subpoena to Deutsche Bank and requested documents from JPMorgan Chase, Bank of America and Citigroup as part ongoing probes into the US president’s financial ties to other nations and suspected money laundering in Russia and Eastern Europe. The Deutsche Bank subpoena, issued by the… Read More
16th April 2019
Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky. Rusal, the world’s largest aluminum producer outside China, announced the deal in one of the main markets for… Read More
16th April 2019
AP — Newly unsealed documents in the fraud case of a South Dakota man linked to an admitted Russian covert agent show he obtained at least $2.3 million from 78 people for bogus investments dating to at least 1997. Paul Erickson has pleaded not guilty to 11 counts of wire… Read More