Featured Sanctions

Sanctions: Standard Chartered’s New York compliance monitorship programme ends

A New York Department of Financial Services (DFS) programme to monitor Standard Chartered over its compliance failings will conclude next month. The bank’s monitorship, which was appointed by the DFS, will expire on 31 December 2018 after it was deemed to have demonstrated a ‘commitment’ to complying with anti-financial… Read More

Societe Generale fined $1.3 billion for sanctions, anti-money laundering violations

French lender Societe Generale has been hit with a number of fines and actions by various US departments over allegations it breached financial crime rules. The US Treasury’s Office of Foreign Assets Control, Fed Reserve, the New York County District Attorney’s Office and the New York Department of Financial Services… Read More

US fully reimposes sanctions on Iran, snapback takes effect

The United States’ sanctions against Iran were fully reimposed on Monday, re-instating its remaining nuclear-related bans that were lifted or waived in connection with the Joint Comprehensive Plan of Action (JCPOA). Treasury’s Office of Foreign Assets Control (OFAC) sanctioned more than 700 individuals, entities, aircraft, and vessels, in a… Read More
7th December 2018
Like many top Chinese executives, Meng Wanzhou is a mysterious figure even in her home country, but the 46-year-old chief financial officer of Huawei Technologies had been widely tipped to one day take the helm of the tech giant her father founded. That was until her shock arrest in Canada… Read More
7th December 2018
AP — A Lebanese businessman accused of providing millions of dollars to the Hezbollah militant group pleaded guilty Thursday and admitted his role in a money laundering conspiracy in an effort to evade U.S. sanctions, the Justice Department said. Kassim Tajideen, 63, of Beirut, was accused… Read More
5th December 2018
The United States is pressing the European Union to consider economic sanctions on Iran over its ballistic missiles, a senior U.S. official said on Tuesday, warning of a wider regional conflict if Tehran’s ambitions remain unchecked. Iran’s test of a ballistic missile this month alarmed the West and France called… Read More
30th November 2018
AP — A key broker of the latest deal to end South Sudan’s civil war diverted European weapons to South Sudan’s military despite an EU arms embargo, a new report says. It also asks how a U.S. military jet ended up deployed in South Sudan… Read More
29th November 2018
A New York Department of Financial Services (DFS) programme to monitor Standard Chartered over its compliance failings will conclude next month. The bank’s monitorship, which was appointed by the DFS, will expire on 31 December 2018 after it was deemed to have demonstrated a ‘commitment’ to complying with anti-financial… Read More
29th November 2018
European Union leaders meeting for a summit in Brussels in December are expected to extend for another year the bloc’s main economic sanctions against Russia over Ukraine. The bloc is debating whether to add more sanctions over the latest flare-up of tensions between the two on the Azov Sea. Below… Read More
28th November 2018
Several senior European politicians on Tuesday raised the possibility of new sanctions against Russia to punish it for capturing three Ukrainian vessels at sea, an incident the West fears could ignite a wider conflict. Financial markets have responded to the prospect of new Western sanctions that could hurt Russia’s economy,… Read More
20th November 2018
French lender Societe Generale has been hit with a number of fines and actions by various US departments over allegations it breached financial crime rules. The US Treasury’s Office of Foreign Assets Control, Fed Reserve, the New York County District Attorney’s Office and the New York Department of Financial Services… Read More
16th November 2018
A special European Union initiative to protect trade with Iran against newly reimposed U.S. sanctions faces possible collapse with no EU country willing to host the operation for fear of provoking U.S. punishment, EU diplomats said. The main European powers – Germany, France and Britain – will raise pressure on… Read More
15th November 2018
AP — For North Korean factory managers, a visit by leader Kim Jong Un is the highest of honors and quite possibly the most stressful event imaginable. The chief engineer at the Songdowon General Foodstuffs Factory had looked forward to the visit for nearly a decade. Read More
Must Read

FATF publishes assessment of UK anti-money laundering, counter terror financing systems

A global anti-money laundering (AML) watchdog has found that the United Kingdom has a ‘robust understanding’ of laundering and terrorism financing threats, but warned it faces significant risks of dirty cash inflows from offshore jurisdictions and foreign criminals. The Financial Action Task Force (FATF) said Britain’s ‘strong’ public-private partnerships are… Read More

Deutsche Bank hit by new laundering report; shares slide again

Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More