28 non-egregious, non-voluntarily self-disclosed violations of North Korean sanctions by PT Bukit Muria Jaya puts the base penalty at $1,270,000. What they did BMJ exported cigarette paper to entities located in or doing business on behalf of the DPRK, including to an intermediary in China that procured cigarette paper from […]
Estimated reading time: 7 minutes
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 non-egregious, voluntarily self-disclosed violations of sanctions imposed on sanctioned Syrian financial institutions between August 2011 and April 2013. These violated […]
Estimated reading time: 10 minutes
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 November 2011 and late August 2014. The non-egregious violations were voluntarily self-disclosed for 8 Syria-related violations, but not self-disclosed for […]
Estimated reading time: 4 minutes
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 virtual currency services firm. It may be small, but there are some lessons to be learned. Happy […]
Estimated reading time: 39 seconds
We started the year with a tiny $12,150 settlement with Park Strategies, LLC and end with this… 183 apparent violations of the Crimea (E.O. 13685) part of the Ukraine/Russia-related sanctions, as well as the Cuba, Syria, Iran and Sudan sanctions – not voluntarily self-disclosed, but not egregious. That makes the […]
Estimated reading time: 11 minutes
Statement on inspection in FLEASING A / S (money laundering area) In March 2020, the Danish Financial Supervisory Authority conducted a virtual inspection of FLEASING A / S. The inspection was an investigation of the money laundering area. The inspection included the company’s risk assessment, policies, procedures and internal controls. In addition, the […]
Estimated reading time: 3 minutes
Statement on inspection in A / S Global Risk Management (money laundering area) In March 2020, the Danish Financial Supervisory Authority inspected A / S Global Risk Management. The inspection was an investigation of the money laundering area. The inspection included the company’s risk assessment, policies, procedures and internal controls in the […]
Estimated reading time: 5 minutes
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, October 29, 2020 United States Files Complaint to Forfeit Iranian Missiles and Sells Previously-Transferred Iranian Petroleum The Iranian Missiles Were Confiscated and the Iranian Petroleum Was Transferred From Ships in International Waters The Justice Department today announced the filing […]
Estimated reading time: 9 minutes
World Bank Group Sanctions Two Chinese Engineering Companies for 18 months WASHINGTON, October 28, 2020 — The World Bank Group today announced the 18-month sanctions of China National Electric Engineering Company Limited (“CNEEC”) and its wholly owned subsidiary, China Electric Design and Research Institute Company Limited (“CEDRI”), both international engineering companies, […]
Estimated reading time: 3 minutes
Mixa, Mixa, Mixa is the 25th episode of Mr. Watchlist’s DesigNation. Today, we focus on last week’s FinCEN Civil Monetary Penalty assessment on Larry Dean Harmon, who ran a pair of bitcoin mixers. And FinCEN used the enforcement structure it talked about in its August BSA Enforcement Statement … good […]
Estimated reading time: 26 seconds