Menu Home

The fun starts on page 14…

of the Standard Chartered settlement with OFAC – it’s a roadmap to what real remediation looks like, and the standards for a firm of size and commercial sophistication are: Specifically, OFAC and Respondent understand that the following compliance commitments have been made: a. Management Commitment: i. Respondent commits that Senior […]

Mr. Watchlist said there was more…

Department of Justice U.S. Attorney’s Office Southern District of New York   Manhattan U.S. Attorney Announces Criminal Charges Against Société Générale S.A. For Violations Of The Trading With The Enemy Act Bank to Pay Total Penalties of more than $1.3 Billion as part of Resolution with Federal and State Prosecutors […]

OFAC Enforcement Action: Societe Generale settles for almost $54 million (& pays NY DFS much more)

Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Société Générale S.A. 11/19/2018 The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $53,966,916.05 settlement with Société Générale S.A. to settle potential civil liability for apparent violations of U.S. sanctions.  […]

March 26, 2018: HK SFC AML/CTF Circular

On March 26th, the Hong Kong Securities and Futures Commission (HK SFC) issued an anti-money laundering and counter terrorist financing (although they use CFT as an acronym) circular. It contained two elements: A notice that an updated Sudan sanctions list had been published in the government Gazette, and included a […]

March 28, 2018: EU, HMT amend 3 Sudan listings

Yesterday, Her Majesty’s Treasury (HMT) implemented Council Implementing Regulation (EU) No 2018/512 by amending the following Sudan sanctions listings: 1. ALNSIEM Musa Hilal Abdalla DOB: (1) 01/01/1964. (2) –/–/1959. POB: Kutum a.k.a: HILAL, Sheikh, Musa Nationality: Sudan Passport Details: a) Diplomatic Passport no. D014433, issued 21 Feb 2013, expires 21 […]