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☆ Catching Sanctions Evaders Getting More Complex
▼ + stars: | 2022-10-20 | by ( David Smagalla | ) www.wsj.com time to read: +4 min

Some players looking to bypass Russia sanctions are taking pages from the playbook of Iran and North Korea sanctions evaders, such as the use of front companies to transact in the country. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. Isaias Lima, a managing director at financial services business the Bancorp Inc., said attempts by individuals and entities to help Russia evade sanctions are a concern. “The expectation is that if you are receiving the data, if you have possession of IP addresses, you have to screen those IP addresses and understand whether or not those transactions are originating from sanctioned countries,” he added. OFAC has relied more and more on the use of IP addresses as a sanctions enforcement tool, said Orisia Gammell, SAP SE’s chief legal counsel for export control.

WASHINGTON, Oct 14 (Reuters) - The United States on Friday warned it can impose sanctions on people, countries and companies that provide ammunition to Russia or support its military-industrial complex, as Washington seeks to increase pressure on Moscow over the war in Ukraine. Muir was also set to warn that Russian intelligence services are tasked with illicitly acquiring Western technology and parts barred from being exported to Russia under U.S. measures. The Commerce Department has previously warned that semiconductors produced by Western companies have turned up in Russian military drones and other uses. Asked how much more Western allies could do to increase pressure on Russia, one European finance official said, "We can extend the list of people who are under sanctions. "But I think clearly the sanctions will show their impact in terms of industrial value chains in Russia," the European official said, speaking on condition of anonymity.

☆ Crypto Advocacy Group Sues U.S. Treasury Over Tornado Cash Sanctions
▼ + stars: | 2022-10-12 | by ( Mengqi Sun | ) www.wsj.com time to read: +4 min

A cryptocurrency research and advocacy group has filed a lawsuit challenging the U.S. Treasury Department’s sanctions against cryptocurrency mixer Tornado Cash. In August, OFAC imposed sanctions on Tornado Cash, a currency mixer that enables users to co-mingle their funds in order to obfuscate ownership. OFAC accused Tornado Cash of laundering billions of dollars in virtual currency, including $455 million allegedly stolen by North Korean hackers. In September, however, OFAC clarified that the sanctions placed on Tornado Cash don’t prohibit U.S. individuals or businesses from interacting with open-source code itself, as long as it doesn’t involve a prohibited transaction with the Tornado Cash platform. The Coinbase suit also argues that these sanctions exceed Treasury’s statutory authority and infringe on the plaintiffs’ constitutional right to privacy.

☆ Crypto exchange Bittrex to pay $29-mln penalty to U.S. Treasury Department
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Oct 11 (Reuters) - The U.S. Treasury Department said on Tuesday that cryptocurrency exchange Bittrex Inc had agreed to pay $29 mln in fines for "apparent violations" of sanctions on certain countries and anti-money laundering law. The Treasury Department's Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) had levied fines of about $24 million and $29 million, respectively, on Bittrex. Register now for FREE unlimited access to Reuters.com RegisterEffectively, Bittrex will have to pay a penalty of about $29 million. FinCEN said its investigation found that from February 2014 through December 2018, Bittrex did not maintain an effective anti-money laundering program. Bittrex in an emailed statement to Reuters said it was "pleased to have fully resolved" the matter with OFAC and FinCEN on mutually agreeable terms.

☆ Crypto Exchange Bittrex to Pay $29 Million Over Violating Sanctions
▼ + stars: | 2022-10-11 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Cryptocurrency exchange Bittrex Inc. will pay $29 million to the U.S. Treasury Department to settle allegations that it violated sanctions and anti-money-laundering laws. The Treasury said Tuesday that fined Seattle-based Bittrex a total of $53 million: a $24 million penalty from the Office of Foreign Assets Control, the Treasury unit that enforces sanctions, and $29 million fine from the Financial Crimes Enforcement Network, which combats illicit finance. As a result, Bittrex will pay about $29 million out of pocket. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. Bittrex collected customers’ internet protocol address and physical address information when they joined the platform, OFAC said, but the exchange failed to screen this information for potential sanctions violations.

☆ Treasury Fines Crypto Exchange Bittrex $53 Million
▼ + stars: | 2022-10-11 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

The U.S. Treasury Department imposed two enforcement actions with fines totaling $53 million against cryptocurrency exchange Bittrex Inc. for alleged violations of sanctions and anti-money-laundering laws, the agency said Tuesday. The Treasury said Tuesday’s actions highlight the importance of crypto firms maintaining risk-based sanctions and anti-money-laundering compliance programs, and that noncompliance with these requirements can result in enforcement actions and exposure to potential abuse by illicit actors. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEW OFAC alleged that Bittrex failed to prevent people located in jurisdictions facing U.S. sanctions, including Ukraine’s Crimea region, Cuba and Iran, from using its platform to conduct crypto transactions between 2014 and 2017. FinCEN said Bittrex also failed to file required suspicious activity reports between 2014 and 2017.

☆ Treasury fines crypto company $29.3 million for violating multiple U.S. sanctions, Bank Secrecy Act
▼ + stars: | 2022-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

U.S. Treasury Secretary Janet Yellen holds a news conference in the Cash Room at the U.S. Treasury Department in Washington, U.S. July 28, 2022. The Treasury Department fined a Washington-based cryptocurrency trading platform $29.3 million for violating multiple sanctions, including those prohibiting U.S. companies from doing business with individuals operating in Iran, Sudan, Syria, Cuba and the Crimea region of Ukraine, the agency announced Tuesday. The Treasury's Financial Crimes Enforcement Network division, or FinCen, imposed a total civil penalty of $29.3 million, which covers additional violations under the Bank Secrecy Act. FinCEN also discovered that the company did not maintain an effective anti-money laundering program from February 2014 through December 2018. A sanctions compliance program was not adopted until December 2015, though Bittrex began offering virtual currency services in early 2014.

☆ Crypto exchange Bittrex fined $53 mln by U.S. Treasury Dept
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - The U.S. Treasury Department said on Tuesday that cryptocurrency exchange Bittrex Inc was fined about $53 million to settle "apparent violations" of U.S. sanctions on certain countries and anti-money laundering laws. The OFAC alleged that Bittrex failed to prevent people located in the sanctioned jurisdictions of Ukraine's Crimea region, Cuba, Iran, Sudan, and Syria from using its platform between March 2014 and December 2017. Register now for FREE unlimited access to Reuters.com RegisterThe FinCEN said its investigation found that from February 2014 through December 2018, Bittrex failed to maintain an effective anti-money laundering program. Bittrex in an emailed statement to Reuters said it was pleased to have fully resolved the matter with OFAC and FinCEN on "mutually agreeable terms". Register now for FREE unlimited access to Reuters.com RegisterReporting by Manya Saini in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Delaware Freezes Out Russia-Linked Startups, Extending Sanctions’ Reach
▼ + stars: | 2022-09-29 | by ( Andrew Scurria | ) www.wsj.com time to read: +7 min

PREVIEWDelaware is now extending U.S. sanctions meant to punish Russia for its invasion of Ukraine to business ventures incorporated in the state. Blocked startups also can’t raise outside financing because they can’t amend their articles of incorporation in Delaware to issue new capital stock, according to several startup founders and their lawyers. Some startups have persuaded Delaware to restore their good standing after demonstrating that corporate officers no longer live in Russia. Blocked startups face other financial repercussions. It can’t proceed with expansion plans so long as it is blocked in Delaware, Mr. Zykov said.

☆ Crédit Agricole Subsidiaries to Settle Alleged Violations of U.S. Sanctions
▼ + stars: | 2022-09-26 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Two subsidiaries of French bank Crédit Agricole Group’s corporate and investment banking arm have agreed to pay more than $1.12 million in civil penalties to settle alleged violations of U.S. sanctions, the Treasury Department said on Monday. Separately, CFM Indosuez Wealth, a Monaco-based indirect subsidiary also of Crédit Agricole Corporate and Investment Bank, has agreed to pay $401,039 for allegedly violating sanctions against Cuba, Iran and Syria, OFAC said. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEW Representatives of Crédit Agricole Corporate and Investment Bank didn’t immediately respond to a request for comment. The two subsidiaries were responsible for implementing the compliance policies of their two parents, Crédit Agricole SA and its investment banking arm, but failed to do so from as early as 2011 until 2016, according to OFAC.

☆ Musk says he will activate Starlink amid Iran protests
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Starlink logo is seen on a smartphone in front of displayed Ukrainian flag in this illustration taken February 27, 2022. The U.S. Treasury Department on Friday issued guidance expanding internet services available to Iranians despite U.S. sanctions on the country, amid protests around Iran following the death of a 22-year-old woman in custody. Musk could not be reached for comments or clarification regarding Starlink's clearance to operate in Iran. The U.S. State Department spokesperson added that if SpaceX were to determine that some activity aimed at Iranians requires a specific license, "OFAC would welcome it and prioritize it". "By the same token, if SpaceX determines that its activity is already authorized and has any questions, OFAC also welcomes that engagement," the State Department spokesperson said.

WASHINGTON, Sept 20 (Reuters) - The U.S. Treasury Department said on Tuesday some satellite internet equipment can be exported to Iran, suggesting that SpaceX CEO Elon Musk may not need a license to provide the firm's Starlink satellite broadband service in the country. Musk said on Monday the company will ask for an exemption from sanctions against Iran. Register now for FREE unlimited access to Reuters.com RegisterSome people on Twitter had asked Musk to provide the satellite-based internet stations. "For any exports not covered by existing authorizations, OFAC welcomes applications for specific licenses to authorize activities supporting internet freedom in Iran," the statement added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kanishka Singh and Daphne Psaledakis in Washington\ Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ В Молдове предупреждают о возможных проблемах расчётов с белорусскими компаниями
▼ + stars: | 2021-05-28 | by ( Super User | ) mybusiness.md time to read: +1 min

"Сообщаем вам, что Управление по контролю за иностранными активами Казначейства США (OFAC) внесло изменения в санкционную политику в отношении списка компаний в Беларуси", - проинформировал своих клиентов ProCredit Bank. Таким образом, мы хотели бы сообщить вам, что существует риск того, что платежи от / в эти компании будут заблокированы и впоследствии остановлены банками-корреспондентами и посредниками без возврата денег плательщикам, написано на сайте финансового учреждения. Более подробную информацию можно найти, перейдя по следующим ссылкам:https://home.treasury.gov/system/files/126/belarus_gl2h.pdfIssuance of Belarus General License 2H | U.S. Department of the TreasuryRevocation of the Authorization of Belarus General License 2G Due to Human Rights Violations and Abuses - United States Department of StateВ перечень США попали «Белорусский нефтяной торговый дом», «Белшина», «Гродно Азот», «Гродно Химволокно», «Лакокраска», «Нафтан», «Полоцк-Стекловолокно», «Белнефтехим» и ее американский филиал. Кроме того, молдавским банкам и компаниям рекомендовано прекратить отношения с «Могилевхимволокно», «Светлогорскхимволокно», «Гомельстекло» и Eximoil. «Платежи данных компаний и их подразделений на основании старых договоров возможны только до 03.06.2021 и только с целью прекращения деловых отношений», рекомендуют молдавские банкиры.

Organizations: ProCredit Bank, 2H, U.S . Department of, United States Department of, Управление по контролю за иностранными активами, Казначейство, Белшина, Гродно Азот, Гродно Химволокно, Нафтан, ПолоцкСтекловолокно, Белнефтехим, Могилевхимволокно, Гомельстекло Locations: Belarus, США (), Беларусь, США

☆ ПСРМ обратилась к Санду: «Не позволяйте, чтобы Молдову вовлекли в международный скандал»
▼ + stars: | 2021-05-27 | by ( ) newsmaker.md time to read: +2 min

Депутат от Партии социалистов (ПСРМ) Петр Бурдужа сообщил о «рисках того, что Молдова попадет в список стран, которые выступают с санкциями против Беларуси». xВ своем выступлении депутат-социалист сослался на сообщение одного из коммерческих банков, который предупредили клиентов о возможных проблемах с операциями с белорусскими компаниями. Петр Бурдужа на пресс-конференции отметил, что Молдова может оказаться вовлеченной в этот «международный скандал» и потерять сотрудничество с Беларусью. Призываем Майю Санду и ее кураторов предпринять действия, не позволить, чтобы Молдову вовлекли в этот международный скандал», — подчеркнул депутат-социалист. Также на канале сообщалось, что «санкции могут затронуть предприятия концерна Белнефтехим: Могилевхимволокно, Светлогорскхимволокно, Гомельстекло и Eximoil LTD».

Persons: Петр Бурдужа, Майя Санду, Бурдужа, Бурдужи Нацбанк, Светлогорскхимволокно Organizations: Партия социалистов (ПСРМ), Управление контроля за, Казначейство, Нацбанк, Белнефтехим, Гродно Азот, НБМ Locations: Молдова, Беларусь, США (), Беларусью, Кишинев, Белшина, Гроднохимволокно, Лакокраска, Нафтан, Полоцкстекловолокно, Гомельстекло

☆ Банки прекратят операции с белорусскими компаниями? Что ответили в НБМ
▼ + stars: | 2021-05-27 | by ( ) newsmaker.md time to read: +2 min

Национальный банк Молдовы опроверг информацию, которая появилась на некоторых телеграмм-каналах, о том, что якобы регулятор предупредил молдавские коммерческие банки о прекращении операций с некоторыми белорусскими компаниями до 3 июня в связи с санкциями против Беларуси. В этих же каналах ссылались на пресс-релиз ProCreditBank, который якобы объявил об остановке платежей по контрактам с белорусами с 3 июня по распоряжению Нацбанка. На самом деле в пресс-релизе ProCreditBank речь идет о другом. Никаких деталей о том, что блокировка операций в принципе возможна, в НБМ не сообщили. Есть риск того, что платежи заблокируют и впоследствии остановят без возврата денег плательщикам, даже если они законные».

Persons: Светлогорскхимволокно, НацбанкНацбанк Organizations: Национальный банк, Нацбанк, Белнефтехим, Гродно Азот, НБМ, Управление контроля за, Казначейство Locations: Молдова, Беларусь, Беларусью, Белшина, Гроднохимволокно, Лакокраска, Нафтан, Полоцкстекловолокно, Гомельстекло, США ()

Deputatul a menționat că BNM nu a confirmat sau negat aceste informații ale băncii comerciale și nu a prezentat încă nicio lămurire. Petru Burduja a vorbit despre ceea ce pierde Republica Moldova în acest caz. Moldova exportă în Belarus vinuri, struguri, alcool etilic, legume, fructe, porumb, conserve, medicamente, mobilier etc. Iar producătorul MAZ din Belarus, care a câștigat concursul organizat de Primăria Chișinău, va furniza aproximativ 100 de autobuze pentru Chișinău în condiții destul de avantajoase. Petru Burduja a subliniat că avem relații comerciale și economice foarte strânse cu Republica Belarus, care ar putea suferi foarte mult dacă Republica Moldova va fi implicată în jocul geopolitic internațional și unii politicieni vor decide să se alăture declarațiilor privind sancțiunile.

Persons: Petru Burduja, Deputatul Organizations: Primăria Locations: SUA, Belarus, Republica Moldova, Republicii Moldova, Moldova, Chișinău, Primăria Chișinău, Republica Belarus

☆ Washingtonul a anunțat noi sancțiuni împotriva Iranului după acțiunile agresive de luni ale Teheranului
▼ + stars: | 2021-01-05 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +3 min

Administraţia Donald Trump a impus, marţi, noi sancţiuni împotriva Iranului, vizând industria oţelului, acuzând Teheranul de susţinerea terorismului şi de abuzuri în domeniul drepturilor omului, anunţă Departamentul Trezoreriei de la Washington, informează Reuters, citează Mediafax. Compania chineză sancţionată se numeşte Kaifeng Pingmei New Carbon Materials Technology şi este acuzată că a furnizat mii de tone de materiale producătorilor de oţel din Iran. Anunțul administrației americane a venit după ce armata iraniană a anunțat luni că intenționează să desfășoare în ziua următoare o operațiune de instruire „comună și la scară largă” cu drone care implică mai multe ramuri militare. De asemenea autoritățile iraniene au dispus luni confiscarea unei nave comerciale sud-coreene care tranzita Strâmtoarea Ormuz, acuzând că aceasta „poluează Golful Persic cu substanțe chimice”. Tot luni regimul de la Teheran a anunțat că a reluat îmbogățirea uraniului la o puritate de 20%, o încălcare flagrantă a acordului nuclear semnat în 2015 cu marile puteri.

Persons: Administraţia Donald Trump, Reuters, Donald Trump, Steven Mnuchin Organizations: Mediafax, Trezoreriei, iranian Locations: Iranului, Washington, China, iranieni, străinătate, Iran, SUA, Semnan, coreene, Strâmtoarea Ormuz, Golful Persic, Coreea de Sud, Teheran

☆ В США подтвердили информацию о блокировании иранских сайтов
▼ + stars: | 2020-10-22 | by ( Mld Media Srl | ) noi.md time to read: 1 min

Министерство юстиции США подтвердило сообщение о блокировании ряда иранских веб-сайтов, в том числе Иранского союза исламского радио и телевидения (IRTVU). Решением суда заблокированы в целом 33 сайта, которые использовал IRTVU, и три сайта, подконтрольные проиранской группировке «Катаиб Хезболлах», уточнили в Минюсте. IRTVU попал в черный список Управления по контролю за иностранными активами США (OFAC) 22 октября 2020 года из-за обвинений в попытках вмешательства в выборы в США. Учреждения и организации, включенные в санкционный список, не могут пользоваться веб-сайтами и доменными услугами, если у них нет лицензии OFAC, говорится в сообщении. В Минфине также указали, что «Катаиб Хезболла» включена Госдепартаментом США в список террористических организаций и 3 июля 2009 года также была внесена в санкционный список OFAC.

Organizations: Министерство юстиции, Иранский союз исламское радио и телевидения (), Катаиб Хезболлах, Минюст, Управление по контролю за иностранными активами, Минфин, Катаиб Хезболла, Госдепартамент Locations: США, США ()

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