Guidance
Publication of Sanctions Compliance Guidance for the Virtual Currency Industry and Updated Frequently Asked Questions Release date10/15/2021Body The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing an industry-specific brochure, “Sanctions Compliance Guidance for the Virtual Currency Industry,” as a resource to help members of the […]
CBUAE issues new guidance on anti-money laundering and combatting the financing of terrorism for licensed financial institutions providing services to cash-intensive businesses Abu Dhabi (3 October 2021): The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for […]
Frequently Asked Questions 933. Are the authorizations in paragraph (a) of Venezuela-related General Licenses 7C and 20B, respectively, expired? Answer No. The authorizations in paragraph (a) of Venezuela-related General Licenses (GLs) 7C (“Authorizing Certain Activities Involving PDV Holding, Inc. and CITGO Holding, Inc.”) and 20B (“Authorizing Official Activities of Certain International Organizations Involving the Government […]
From the resource page below, we have the following from the Central Bank of the UAE: Law: Federal Decree-Law No (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations Cabinet Decision: Cabinet Decision No (10) of 2019 concerning the Implementing Regulation of […]
932. Do U.S. sanctions prohibit U.S. persons from visiting, or making donations to, the Imam Reza Holy Shrine in Mashhad, Iran? Answer URGENT NOTE: The U.S. Department of State cautions against any travel by U.S. persons to Iran. The Department of State has issued a Level Four Travel Advisory (Do Not Travel) for […]
CBUAE issues new guidance for licensed financial institutions on transaction monitoring and sanctions screening Abu Dhabi (13 September 2021): The Central Bank of the UAE (CBUAE) has issued a new guidance on transaction monitoring and sanctions screening for its licensed financial institutions (LFIs). The Guidance aims to promote the understanding […]
As we all kind of expected, the U.S. is keeping sanctions on the Taliban, but taking action to provide humanitarian aid to Afghanistan through General Licenses for the Counter Terrorism program. We’ve got two – General License 14: GENERAL LICENSE NO. 14 Authorizing Humanitarian Activities in Afghanistan (a) Except as […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued an updated advisory to highlight the sanctions risks associated with ransomware payments in connection with malicious cyber-enabled activities and the proactive steps companies can take to mitigate such risks, including actions that OFAC would consider to […]
President Biden issued a new Executive Order “Imposing Sanctions on Certain Persons with Respect to the Humanitarian and Human Rights Crisis in Ethiopia”. It empowers the Treasury Secretary to sanction the following parties: (a) to be responsible for or complicit in, or to have directly or indirectly engaged or attempted […]
General License 5 is the one that permits dealing in PdVSA’s 8.5% Bond… only on or after a certain date. The new date – in GL 5H – is January 21, 2022. The old date? October 21, 2021 And the corresponding Frequently Asked Question (FAQ) was updated. Links: OFAC Notice […]
