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June 13, 2019: CMPs getting inflated again…

Under the Federal Civil Penalty Inflation Adjustment Act of 1990 (amended under the Debt Collection Improvement Act of 1996 and the Federal Civil Penalties Inflation Adjusement Act Improvements Act of 2015), federal agencies get to adjust their penalty schedules for inflation. For OFAC, that means the statutory maximums imposed for […]

OFAC’s latest Terrorist Assets Report is out

This is OFAC’s 27th “Annual Report to the Congress on Assets in the United States Relating to Terrorist Countries and Organizations Engaged in International Terrorism” – a mouthful, I know. Some highlights: $46.181 million in blocked terrorist organization assets, up from $43.606 million in 2017 Biggest increases in this group […]

New TAFA Quarterly Report is out

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 […]

OFSI ‘s April-June Quarterly TAFA Report issued

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: […]

HK SFC concludes AML/CFT consultation

    Latest update  最新訊息     SFC concludes consultation on amendments to anti-money laundering and counter-financing of terrorism guidelines 12 Oct 2018   The Securities and Futures Commission (SFC) today released consultation conclusions on proposals to amend its Guideline on Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT Guideline) (Note 1). The amendments […]

October 9, 2018: One more reminder from OFSI

Office of Financial Sanctions Implementation   Reminder: Frozen Assets Reporting (2018)    This is a reminder that if you hold or control funds or economic resources belonging to, owned, held, or controlled by a designated person you are required to submit a report to the Treasury’s OFSI by Friday 12 October 2018. Your report […]