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Sanctions Clause says: Whoa, whoa, whoa!

You’re still at work, yes? OK, take a 10-minute break and listed to the latest episode Sanctions Clause Says: Don’t Pass, BitGo! – all about yesterday’s teeny, tiny settlement OFAC made with this...

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OFAC issues 2019 Terrorist Assets Report

The annual Terrorist Assets Report is out. Some highlights: From Exhibit A (blocked funds from SDGTS and FTOs) Total blocked funds increased from $46.2MM to $63.1MM ($16.9MM increase). However, that...

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Brexit has been exited

End of the Transition Period The transition period has ended. The UK is no longer implementing EU sanctions. All sanctions regimes will now be implemented through UK regulations. As a result, OFSI has...

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End of Year Clearance: OFAC Enforcement nets $653,347 from National...

NCB, based in Jeddah, Saudi Arabia, paid the settlement for 13 apparent violations of the Sudan and Syria-related sanctions in which the transactions went through the U.S. financial system between...

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New Year, new regime – new UK General License

General licence – INT/2020/059 OFSI has the power to issue General Licences for country sanctions regimes under the Sanctions and Anti-Money Laundering Act 2018 (“the Sanctions Act”). On 1 January...

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Mr. Watchlist’s DesigNation gets an early start on the New Year…

As did OFSI (I got notification of their very first post-Brexit General License at 11:48 PM London time on New Year’s Eve)! So, I decided to make a podcast episode about it… “Trust, but Verify”,...

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About the new OFSI General License…

When I first got notice of the General License INT/2020/059 issued under the UK’s The Russia (Sanctions) (EU Exit) Regulations 2019, I thought “oh, wow! Something new and novel.” And, don’t get me...

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OFAC updates Venezuela General License 31, and issues an updated FAQ

This is an exception – this is not a limited time General License being renewed for another time period. Two important changes – first, the GL now authorizes transactions with a broader class of...

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OFAC Enforcement Disinformation: UBAF pays $8,572,500

That is not a typo… Mr. Watchlist meant to type “disinformation.” Read the details and I think you’ll understand why/… Union de Banques Arabes et Francaises (UBAF) committed 127 apparent...

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OFSI issues Libya guidance

The first guidance issued since the end of the Transition Period, it explains Libya sanctions under the Libya (Sanctions) (EU Exit) Regulations 2020. In addition to a section on your garden-variety...

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January 4, 2020: OFAC publishes Communist Chinese Military Companies FAQ

862. Does Executive Order (E.O.) 13959 require U.S. persons, including U.S. funds and related market intermediaries and participants, to divest their holdings in publicly traded securities (and...

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OFAC sanctions Iranian steel companies, plus adds parties to IFCA menu-based...

Today, OFAC added the following person: SAJDEH, Majid, Iran; DOB 26 Jan 1968; POB Tehran, Iran; nationality Iran; Gender Male; Executive Order 13846 information: LOANS FROM UNITED STATES FINANCIAL...

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OFAC adds 2 new CAATSA FAQs, amends 2

OFAC added FAQs 869 and 870 today relating to CAATSA (Countering America’s Adversaries through Sanctions Act): 869. If a person is subject to non-blocking menu-based sanctions described in section...

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HKMA talks COVID, risk-based approaches, and regulatory expectations…

Our Ref.: B1/15C B10/14C B10/21C 31 December 2020 The Chief Executive All Authorized Institutions and Stored Value Facility Licensees Dear Sir/Madam, Coronavirus disease (COVID-19) and Money...

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Two more Communist Chinese Military Companies FAQs

Two more Frequently Asked Questions about Communist Chinese Military Companies (note that neither the program, nor the FAQ section includes the word “Communist”, but the OFAC Notice does): 863. Can...

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HKMA Alert: Fraudulent ICBC website

29 Dec 2020 Fraudulent website related to Industrial and Commercial Bank of China (Asia) Limited The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued...

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HKMA Alert: Fraudulent Hang Seng Bank website

05 Jan 2021 Fraudulent website related to Hang Seng Bank, Limited The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Hang Seng Bank, Limited on...

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OFAC updates NS-CCMC list, adds 1 to Global Magnitsky human rights sanctions

Today, OFAC added the following person: to its Global Magnitsky sanctions, for human rights abuses. And the State Department issued the following press release about the new designation: Designation...

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OFSI updates 7 on Chemical Weapons sanctions

1. The Chemical Weapons (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/618) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds...

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Oh? OFAC issues General License for Chinese Military Companies

OFFICE OF FOREIGN ASSETS CONTROL Executive Order 13959 of November 12, 2020 Addressing the Threat From Securities Investments That Finance Communist Chinese Military Companies GENERAL LICENSE NO. 1...

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