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Even Warren Buffet is not beyond OFAC’s reach…

Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Berkshire Hathaway, Inc. Release date 10/20/2020 Body The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $4,144,651 settlement with Berkshire Hathaway, Inc. (“Berkshire”), a multinational conglomerate holding company based […]

FinCEN detail on its Civil Monetary Penalty

From today’s CMP assessment of $60,000,000 on Larry Dean Harmon: IV. CIVIL MONEY PENALTYFinCEN determined that Mr. Harmon, in his roles with Helix and Coin Ninja, willfully violated the BSA and its implementing regulations, as described in this ASSESSMENT and Attachment A, and that grounds exist to assess a civil […]

FinCEN penalizes Bitcoin mixer for AML violations

First Bitcoin “Mixer” Penalized by FinCEN for Violating Anti-Money Laundering Laws Contact Office of Strategic Communications, 703-905-3770 Immediate Release October 19, 2020 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a $60 million civil money penalty against Larry Dean Harmon, the founder, administrator, and primary operator of Helix and Coin Ninja, convertible virtual […]

Go directly to Jail…

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, October 15, 2020 Founder and CEO of Iranian Financial Services Firm Sentenced to Prison for Conspiring to Violate U.S. Sanctions Assistant Attorney General for National Security John C. Demers and U.S. Attorney Erica H. MacDonald today announced the sentencing […]

FINMA Enforcement Action: Banca Credinvest

News 06 October 2020 Press release 2020 Combating money laundering FINMA concludes proceedings against Banca Credinvest The Swiss Financial Market Supervisory Authority FINMA has found that Banca Credinvest seriously breached anti-money laundering regulations in its handling of Venezuelan client relationships. FINMA recently concluded corresponding enforcement proceedings and imposed a variety of measures. FINMA […]

Walking the walk

New episode of Mr. Watchlist’s DesigNation revolves around the Comtech Telecommunications enforcement action and, in particular, the Compliance Commitments section of the Settlement Agreement. Normally, OFAC only publicizes the Enforcement Information document – it’s pretty rare that the Recent Actions notification includes a link to the actual settlement. But, this […]