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United States
AML / KYC
US, UK Target Major Russian Sanctions Evasion Network
By Editors | 05/12/2024
OFAC sanctioned five individuals and five entities associated with the network. The NCA said 84 arrests have been made and $25mn has been seized.
Sanctions
China Responds to US Export Controls With Retaliatory Measures
By Editors | 04/12/2024
Exports of gallium, germanium, antimony and superhard materials to the US are banned. Graphite exports will be subject to stricter controls.
Enforcement
OFAC Fines German Firm for Conspiracy to Violate Iran Sanctions
By Editors | 04/12/2024
OFAC said Aiotec GmbH conspired over four years to cause a US company to buy and ship an entire polypropylene plant from Australia to Iran.
AML / KYC
FBI Issues Alert on Use of GenAI for Sophisticated Scams
By Thisanka Siripala | 04/12/2024
The alert includes specific examples of how criminals are exploiting GenAI in fraud schemes to raise public awareness and encourage vigilance
Enforcement
Former CEO of Celsius Network Pleads Guilty on Fraud Charges
By Editors | 04/12/2024
Alex Mashinsky misled investors about the financial condition of Celsius and used customer funds to manipulate the value of a digital token the company issued.
Sanctions
US Sanctions 14 Entities, 21 ‘Shadow Fleet’ Vessels Used by Iran
By Editors | 04/12/2024
The vessels targeted mostly have Panama or Cook Islands flags. The entities targeted are based in China, India, Hong Kong, and six other countries.
Sanctions
OFAC Announces Magnitsky Sanctions Targeting Former Uzbekistan Officials
By Editors | 04/12/2024
The three former officials were involved in human trafficking and physical and sexual violence against children at a state-run orphanage.
Market Infrastructure
US SEC Approves First ‘Around the Clock’ Stock Exchange
By Editors | 03/12/2024
The SEC will allow 24X National Exchange to start offering US daytime trading and later add overnight trading if certain requirements are met.
Enforcement
SEC Settles ICBC Recordkeeping Charges from 2023 Cyber Incident
By Editors | 03/12/2024
ICBC failed to keep its books and records current for almost four months following the November 2023 ransomware attack. No penalty was imposed.
Enforcement
Former CEO Pleads Guilty to Violating US Export Controls
By Editors | 03/12/2024
The former CEO of a freight forwarding company made over 1,000 shipments to Chinese companies on the Entity List that were dealing with North Korea.
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