May 7, 2019: EU adopts terror listing, so OFSI amends theirs
On Tuesday, UK officials implemented Commission Implementing Regulation (EU) 2019/696 by amending the following counter terror listing to remove the “temporary listing” notice: ALVI Mohammed Masood...
View ArticleOFAC’s Framework: Internal Controls
INTERNAL CONTROLS An effective SCP should include internal controls, including policies and procedures, in order to identify, interdict, escalate, report (as appropriate), and keep records pertaining...
View ArticleApril 23, 2019: HK SFC AML/CFT Circular – counter terrorism measures
Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism (1) United Nations (Anti-Terrorism Measures) Ordinance (2) United Nations Sanctions...
View ArticleMay 7, 2019: OFAC removes Venezuelan official from SDN List
On Tuesday, OFAC removed: CRISTOPHER FIGUERA, Manuel Ricardo, Caracas, Capital District, Venezuela; DOB 08 Nov 1963; Gender Male; Cedula No. 8375799 (Venezuela) (individual) [VENEZUELA]. from its...
View ArticleMay 6, 2019: UN, DFAT update a ton of terror listings
Apparently, the United Nations ISIL (Da’esh) and Al-Qaida Sanctions Committee reviews its listings periodically (this is the first one I’m aware of – guess Mr. Watchlist has some research to do), and...
View ArticleMay 8, 2019: SECO updates 48 on Iran list
On Wednesday, Swiss regulators amended 48 individual designations under their Iran program. From a quick review of the changes, they are all in the narrative “Justification” section and do not include...
View ArticleOFAC’s Framework: Testing and Auditing
TESTING AND AUDITING Audits assess the effectiveness of current processes and check for inconsistencies between these and day-to-day operations. A comprehensive and objective testing or audit function...
View ArticleHKMA Alert: HSBC phishing email
Press Releases Phishing email related to The Hongkong and Shanghai Banking Corporation Limited The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued...
View ArticleHKMA Alert: HSBC phishing email
Press Releases Phishing email related to The Hongkong and Shanghai Banking Corporation Limited The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued...
View ArticleOFAC’s Framework: Training
TRAINING An effective training program is an integral component of a successful SCP. The training program should be provided to all appropriate employees and personnel on a periodic basis (and at a...
View ArticleMay 9, 2019: OFAC updates NPWMD listing & SDGT, adds to Venezuela sanctions
On Friday, OFAC added the following entities: MONSOON NAVIGATION CORPORATION, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro MH96960, Marshall Islands; Identification Number IMO 5403673...
View ArticleMay 9, 2019: OSFI updates its reporting requirements
Revisions have been made to the filing requirements for the OSFI-525 and OSFI-590 monthly anti-terrorism reporting effective March 2019. Please consult OSFI’s website for further details. All questions...
View ArticleOFAC’s Framework: Root Causes of Compliance Breakdowns and Deficiencies, #1-5
Root Causes of OFAC Sanctions Compliance Program Breakdowns or Deficiencies Based on Assessment of Prior OFAC Administrative Actions Since its publication of the Economic Sanctions Enforcement...
View ArticleHKMA Alert: Fraudulent Bank of China website
Press Releases Fraudulent website related to Bank of China (Hong Kong) Limited The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank of China...
View ArticleOFAC’s Framework: Root Causes of Compliance Breakdowns & Deficiencies, #6-10
VI. Sanctions Screening Software or Filter Faults Many organizations conduct screening of their customers, supply chain, intermediaries, counter- parties, commercial and financial documents, and...
View ArticleHK SFC AML/CFT Circular: AML/CFT Self-Assessment Checklist
Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism Updated AML/CFT Self-Assessment Checklist The Securities and Futures Commission (“SFC”)...
View ArticleCentral Bank of Ireland AML enforcement action: Bank of Montreal Ireland plc
Here’s the headline piece: Enforcement Action Central Bank of Ireland and Bank of Montreal Ireland plc. Bank of Montreal Ireland plc. reprimanded and fined €1,246,189 by the Central Bank of Ireland for...
View ArticleMay 16, 2019: UN, DFAT add ISIL-K to, remove 1 from counter terror list
On May 16th, Australian regulators added: QDe.161 Name: ISLAMIC STATE IN IRAQ AND THE LEVANT – KHORASAN (ISIL- K) A.k.a.: a) ISIL KHORASAN b) ISLAMIC STATE’S KHORASAN PROVINCE c) ISIS WILAYAT KHORASAN...
View ArticleMay 16, 2019: UN, DFAT remove 4 from Iraq sanctions
On May 16, Australian regulators removed: IQe.021 Name: DIRECTORATE GENERAL OF BAGHDAD ELECTRICITY DISTRIBUTION A.k.a.: na F.k.a.: na Address: P.O. Box 24042, Al-Jumhuriya Street, Building 66, Baghdad,...
View ArticleMay 17, 2019: EU extends Syria sanctions for another year
Syria: EU renews sanctions against the regime by one year On 17 May 2019, the Council extended EU restrictive measures against the Syrian regime until 1 June 2020. In line with the EU strategy on...
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