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The Office of Foreign Assets Control (OFAC) fines Sojitz (Hong Kong) Limited $5,228,29 8 for Apparent Violations of the Iranian Transactions and Sanctions Regulations

January 11, 2022ComplianceAid proNews

On January 11th, 2022, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that Sojitz (Hong Kong) Limited (“Sojitz HK”), a Hong Kong, China-based company that engages in offshore trading and cross-border trade financing, agreed to pay $5,228,298 to settle potential civil liability for apparent violations of the Iranian Transactions and Sanctions...

NatWest Bank Pleads Guilty to Failing to Prevent Alleged Money Laundering of Nearly £400m by aCustomer

October 7, 2021ComplianceAid proNews

October 7, 2021, The National Westminster (NatWest) Bank Plc entered guilty pleas to criminal charges filed by United Kingdom (UK)Financial Conduct Authority (FCA) under the Money Laundering Regulations 2007 (MLR 2007). To Access full articles: Click here

The Pandora Papers is the biggest Offshore Leak in History

October 3, 2021ComplianceAid proNews

On October 3rd, 2021, The International Consortium of Investigative Journalists released their latest investigation: The Pandora Papers. The Pandora Papers is a leak of close to Twelve (12) Million documents that reveals hidden wealth, tax avoidance and money laundering by some of the world's powerful and wealthy. To Access full articles: Click here Click here

The Office of Foreign Assets Control (OFAC) fines Bank of China (UK) Limited $2,329,991 for Violations of Sudan Sanctions Regulations

August 26, 2021ComplianceAid proNews

On August 26th, 2021, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that Bank of China (UK) Limited (“BOC UK”), located in London, the United Kingdom (UK), has agreed to remit $2,329,991 to settle its potential civil liability for processing transactions in apparent violation of OFAC’s now-repealed Sudan sanctions program. To...

OFAC fines Payoneer Inc. $1,400,301.40 for Violations of Multiple Sanctions Programs

July 23, 2021ComplianceAid proNews

OFAC (The Office of Foreign Assets Control), The U.S. Treasury Department, announced on July 23rd, 2021, Payoneer Inc. (“Payoneer”), a publicly traded New York-based online money transmitter and provider of prepaid access, has agreed to pay $1,400,301.40 to settle its potential civil liability for 2,260 apparent violations of multiple sanctions programs. To Access full article:...

FinCEN Issues Anti-Money Laundering/Countering the Financing of Terrorism Priorities

June 30, 2021ComplianceAid proNews

The Financial Crimes Enforcement Network (FinCEN) issued the first government wide priorities for anti-money laundering & countering the financing of terrorism policy. To Access full article: Click here

The Financial Crimes Enforcement Network 180-Day Update on US AML Act Implementation

June 30, 2021ComplianceAid proNews

On June 30th, 2021, Financial Crimes Enforcement Network (FinCEN) announced the delivery of two (2) key requirements to the US Anti-Money Laundering Act of 2020 (the "AML Act"), which includes the Corporate Transparency Act and provided a 180-day update. To Access full article: Click here

FATF identifies jurisdictions with AML/CFT/CFP Strategic Deficiencies

June 25, 2021ComplianceAid proNews

On June 25, 2021, the Financial Action Task Force (FATF), updated its statements concerning jurisdictions under increased monitoring with Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT) and Counter-Proliferation (CFP) strategic deficiencies. To Access full article: Click here

National Westminster Bank Faces Criminal Money Laundering Charges

March 16, 2021ComplianceAid proNews

The Financial Conduct Authority (FCA), United Kingdom regulator filed criminal charges against National Westminster Bank (NatWest) a UK bank for alleged involvement in money laundering offenses. To Access full article: Click here

Antivirus Software Pioneer John David McAfee Charged by U.S. Department of Justice with Cryptocurrency Fraud

March 5, 2021ComplianceAid proNews

On March 5, 2021, John David McAfee, the antivirus software pioneer and Executive Adviser of his cryptocurrency team, was indicted in Manhattan Federal Court, New York for Fraud and Money Laundering Conspiracy Crimes stemming from two cryptocurrency schemes. To Access full article: Click here

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