Newsletters and Reports
Banks’ risk assessment in the area of money laundering In the last quarter of 2019, the Danish Financial Supervisory Authority conducted a cross-examination of a number of smaller banks’ risk assessment in the area of money laundering. The study included 15 banks’ risk assessments. It was intended to investigate whether the […]
Earlier this month, the US Government Accountability Office (GAO) issued a report entitled “Economic Sanctions: Agencies Assess Impacts on Targets, and Studies Suggest Several Factors Contribute to Sanctions’ Effectiveness.” (Whew!) Here’s the lead “What GAO Found” section”: The Departments of the Treasury (Treasury), State (State), and Commerce (Commerce) each undertake […]
The numbers still aren’t enormous – 70,000 GBP total has been frozen under the ISIL/Al-Qaida regime, 18,000 under EU Reg 2580/2001 and 9,000 under TAFA. There were 45 total accounts frozen as of the end of the quarter, and only 2 new designations (both ISIL/AL-Qaida) and 4 delistings (also all […]
Eighth Biennial Report for Licensing Activities Undertaken Pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA) 8/19/2019 OFAC has released a Biennial Report of Licensing Activities pursuant to Section 906(c) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), covering activities undertaken by the Treasury […]
The UK publishes a quarterly report about its counter-terrorism sanctions program – and the one for Q4 of 2018 (calendar) is out. Here are the highlights: At the end of the quarter, 9,000 GBP was frozen under TAFA, 18,000 under EU Reg 2580/2001, and 70,000 under the ISIL/Al-Qaida regime (EU […]
Annex 1 Written Ministerial Statement ____________________________________________________________________ Operation of the UK’s Counter-Terrorist Asset Freezing Regime: 1 July to 30 September 2018 The Economic Secretary to the Treasury (John Glen): Under the Terrorist Asset-Freezing etc. Act 2010 (TAFA 2010), the Treasury is required to prepare a quarterly report regarding its exercise of […]
The UK’s Office of Financial Sanctions Implementation (OFSI) issues a quarterly report on the functioning of the Terrorist Asset Freezing etc. Act 2010 (TAFA). Here is the text of the report: Annex 1 (statistical tables omitted) Written Ministerial Statement ____________________________________________________________________ Operation of the UK’s Counter-Terrorist Asset Freezing Regime: […]
Last Friday, the Office of Financial Sanctions Implementaton (OFSI), part of HM Treasury, issued its annual review of its operations from April 2017 to March of this year. Interesting stats: 2077 total targets 122 targets were added over the past year, mostly from the North Korea (96) and ISIL (Da’esh), […]
Each quarter, a report of the operation of the UK’s counter terrorism asset freezing program under the Terrorist Asset Freezing Act 2010 (TAFA 2010) is published. However, the only part that is publicly issued is the Ministerial statement and some statistics. The report for January through March of 2018 was […]
Her Majesty’s Treasury (HMT) produces reports for Parliament that document the operation of the sanctions under the authority of the Terrorist Asset-Freezing etc Act 2010 (TAFA). The latest reports are for July-September 2017 and October-December 2017. The reports document basic statistical information – how many new designations, how many delistings, […]
