Sanctions Center

Join us for our upcoming LinkedIn Live with Moritz Pottek & Alexander Witt, CSS on "EU Russia Sanctions: Non-EU Subsidiaries to Comply with EU Law". #EUSanctions #Russiasanctions #sanctions #compliance #EUrestrictivemeasures

📣 Treasury / OFAC Sanctions Cartel-Linked Timeshare Fraudsters in Mexico On July 16, 2024, the U.S. Treasury's OFAC sanctioned three Mexican accountants and four companies involved in timeshare fraud linked to the Cartel de Jalisco Nueva Generacion (CJNG). 🚨 The action targets transnational criminal organizations operating sophisticated scams targeting U.S. timeshare owners in Mexico, including the elderly. The Financial Crimes Enforcement Network (FinCEN) issued a joint Notice with OFAC and the FBI, detailing fraud schemes where scammers pose as legitimate brokers or lawyers to defraud victims through telemarketing and advance fee scams. ✅ Financial institutions are advised on identifying and reporting suspicious activities related to these frauds. Original source 👉: https://lnkd.in/gN_iGeKf #USsanctions #sanctionsupdate #sanctionscompliance #CartelSanctions #OFAC #CJNG #FinCEN

📣 EU Extends Sanctions Against Iran for Military Support to Russia and Middle East Groups On July 15, 2024, the EU Council extended restrictive measures against Iran until July 27, 2025, due to its military support for Russia’s aggression against Ukraine and armed groups in the Middle East and Red Sea region. ✅ The sanctions, targeting 12 individuals and nine entities, include asset freezes, a prohibition on providing funds or resources to them, and travel bans. This follows EU decisions in March and April 2024 to address Iran's support, including UAVs and missiles. 📝 The Council expanded sanctions on May 14 and added six individuals and four entities on May 31 and June 24. Original source 👉: https://lnkd.in/gjgDDwpN #EUsanctions #sanctionsupdate #sanctionscompliance #IranSanctions #Russiasanctions #RussiaUkraineWar

📣 International Coalition Strengthens Export Controls Against Russia On July 15, 2024, the European Commission, alongside Japan, the UK, and the US, reaffirmed their commitment to stringent export controls against Russia. 🤝💻 Meeting in Brussels on July 10, 2024, they emphasized continuous enhancements to restrict Russia's military capabilities in response to its invasion of Ukraine. They highlighted ongoing adjustments to export restrictions, the importance of industry compliance, and the use of tools like the Common High Priority List (CHPL). ✅ The coalition remains focused on preventing illicit procurement and ensuring violators are held accountable. Original source 👉: https://lnkd.in/gRsRR-fY #USexportcontrols #exportcontrols #exportcontrolsupdate #Russisanctions #BIS #CHPL #TradeCompliance

📣 Treasury / OFAC Updates West Bank-related Designations on SDN List On July 15, 2024, OFAC updated its Specially Designated Nationals (SDN) list concerning West Bank-related designations. 🔄 The changes involve two individuals: Aviad Shlomo Sarid, originally listed with the date of birth August 1, 1997, and Shlomo Yehezkel Hai Sarid, now updated with the date of birth January 21, 1987. Both are linked to the group TZAV 9. ✅ The updates reflect the corrected identification details of these individuals, who are designated under Executive Order 14115 for their involvement in activities undermining peace and security in the West Bank. Original source 👉: https://lnkd.in/gymfUQZf #USsanctions #sanctionsupdate #sanctionscompliance #OFAC #SDNList #WestBank

🚨 🇪🇺 🇷🇺 EU operators to use "best efforts" to stop non-EU subsidiaries from undermining sanctions. While until now EU sanctions only applied to legal entities incorporated or constituted under the law of a Member State, the 14th EU sanctions package introduces a novel provision in Art. 8a requiring EU operators: "to undertake their best efforts to ensure that any legal person, entity or body established outside the Union that they own or control does not participate in activities that undermine the restrictive measures provided for in "[the Russia Sanctions Regulation]." That's the point of discussion we will have during our LinkedIn Live with Moritz Pottek on July 30, 2024 at 11 AM CEST. Join us!

📣 Treasury / OFAC Adds Hakiman Shargh Research Company to SDN List for Iran-related Non-Proliferation Activities On July 12, 2024, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) added Hakiman Shargh Research Company to its Specially Designated Nationals (SDN) list. 📝 This Iranian entity, located in Khomeini Shahr City, Isfahan Province, is now subject to secondary sanctions. Established on May 11, 1999, the company has been designated under non-proliferation sanctions for its involvement in activities related to weapons of mass destruction (NPWMD) and the Iran Financial Sanctions Regulations (IFSR). ✅ The designation aims to curb the proliferation of materials and technology that can be used in developing nuclear or missile capabilities. Original source 👉: https://lnkd.in/g9wuGZBN #USsanctions #sanctionsupdate #sanctionscompliance #OFAC #IranSanctions #SDNList #NPWMD #IFSR

📣 New York Man and Canadian National Plead Guilty to Export Control Scheme Benefiting Russia On July 9, 2024, Nikolay Goltsev of Montreal and Salimdzhon Nasriddinov of Brooklyn pleaded guilty to a conspiracy to commit export control violations. ✈️ They shipped millions of dollars of U.S. electronics to Russia, used in missiles and drones found in Ukraine. The scheme involved using Brooklyn-based companies to purchase and ship electronics to sanctioned Russian entities via intermediary front companies in various countries. ⚖️ The defendants face up to 20 years in prison, with sentencing set for December 2024. Original source 👉: https://lnkd.in/g5Cxvmnn #USexportcontrols #exportcontrols #exportcontrolsupdate #ExportViolations #RussiaSanctions #ElectronicsSmuggling

📣FinCEN Issues Supplemental Alert on Financing of Israeli Extremist Settler Violence Against Palestinians in the West Bank On July 11, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a supplemental alert regarding the financing of Israeli extremist settler violence against Palestinians in the West Bank. 🚨 This follows a February 2024 alert and provides additional red flags to help U.S. financial institutions identify and report suspicious activities related to this violence. FinCEN requests institutions to use the SAR code "FIN-2024-WBEXTREMISM" and emphasizes U.S. sanctions under Executive Order 14115. ✅ The alert underscores the U.S. opposition to actions undermining peace in the West Bank and provides specific indicators to detect potential illicit financing activities. Original source 👉: https://lnkd.in/gxwEBNBS #USsanctions #sanctionsupdate #sanctionscompliance #FinCEN #WestBank #OFAC #SAR #BSACompliance

📣 Treasury / OFAC Designates Tren de Aragua as Transnational Criminal Organization On July 11, 2024, the U.S. Department of the Treasury sanctioned Tren de Aragua, a Venezuela-based transnational criminal organization. Known for human smuggling, trafficking, and drug trade across the Western Hemisphere, Tren de Aragua also engages in illicit mining and extortion. ✅ The designation aims to curb their criminal activities, including exploiting vulnerable migrants and laundering funds through cryptocurrency. The move underscores U.S. efforts to combat transnational crime networks threatening American communities. 🧊 Sanctions freeze U.S. assets of the organization and related entities, with penalties for involvement in transactions without OFAC authorization. Original source 👉: https://lnkd.in/gA9nd-Kv #USsanctions #sanctionsupdate #sanctionscompliance #OFAC #TrenDeAragua