AML ‘Special Measure’ Imposed on North Korea
The Financial Crimes Enforcement Network is issuing a final rule imposing a special measure against North Korea as a jurisdiction of primary money laundering concern under the USA Patriot Act.
Browsing: Sanctions
Treasury Further Eases Financial Sanctions on Cuba
As part of the Obama administration’s continued opening toward Cuba, the Treasury Department today announced the easing of additional financial sanctions and limitations affecting interactions between the U.S. and Cuba.
Treasury Sanctions International Payment Processor
The Treasury Department’s Office of Foreign Assets Control today imposed sanctions on international payment processor PacNet and a network of 12 individuals and 24 entities targeted for supporting PacNet.
ABA Rejects Proposal to Expand Money Laundering Risk Assessment
ABA today urged the Office of Management and Budget to reject the OCC’s proposed changes to its Bank Secrecy Act/Money Laundering Risk Assessment, or MLR, which evaluates the BSA/AML and OFAC sanctions risks associated with bank products as part of the agency’s BSA/AML/OFAC supervision program.
Treasury Expands Ukraine, Russia-Related Sanctions
The Treasury Department’s Office of Foreign Assets Control today imposed sanctions against 37 new individuals and entities related to the territorial conflicts between Ukraine and Russian proxies.
Agencies Issue Fact Sheet on AML, Sanctions Enforcement
The Treasury Department and the federal banking agencies issued a fact sheet today to communicate expectations about anti-money laundering and sanctions enforcement.
Participation in MLRS Proposed for All OCC-Supervised Banks
The OCC is seeking comments on proposed changes to its Bank Secrecy Act/Money Laundering Risk Assessment, or MLRS, which evaluates the BSA/AML and OFAC sanctions risks associated with bank products and serves as an important tool for the OCC’s BSA/AML/OFAC supervision program.
U.S. Revises Cuba Sanctions Regulations
The Departments of the Treasury and Commerce announced additional revisions to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), building on changes announced by President Obama in December.
Joint Plan of Action Sanctions Relief with Iran Extended; Treasury Issues Statement
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on July 14 released a statement on the Joint Comprehensive Plan of Action (JCPOA) regarding Iran’s nuclear program.