Stories

Senator Elizabeth Warren (D-Mass.) has publicly condemned the Department of Justice’s (DOJ) recent settlement with TD Bank, alleging that the $3 billion penalty agreement enables the bank to evade full accountability for its role in money-laundering activities. In a strongly worded letter sent to Attorney General Merrick Garland and Deputy Attorney General Lisa Monaco, Warren criticized the DOJ for structuring the settlement in a way that, she argues, shields both the bank and its executives from the full extent of legal consequences.

The US has named four Chinese textile firms to the Uyghur blacklist for involvement in the forced labor regimes in China's western Uyghur region. The added firms are affiliates of the Esquel Group, a Hong Kong–based textile and apparel manufacturer. Esquel is the world's largest woven shirt maker, producing about 100 million shirts annually. 

Citing a "blatant disregard of U.S. export controls and the TDO," the Bureau of Industry and Security has renewed the temporary denial order dating to 2008 on Iran's largest airline.   "The de facto airline of Iran’s Islamic Revolutionary Guard Corps (IRGC)," according to industry observers, Mahan operates a modern fleet of western aircraft supported by a network of subsidiary airlines and service companies in African and Asian countries such as Burkina Faso, Gambia, Indonesia, and Mali.

Included in Wednesday's sanctions package, OFAC designated two Swiss lawyers for creating companies and trusts to help Russian clients evade sanctions.   Andres Baumgartner and Fabio Libero Delco facilitated the illicit flow of funds while avoiding oversight due to a loophole in Swiss law that allows lawyers to serve as non-financial intermediaries under the guise of their profession without due diligence or reporting requirements. 

Ottawa the UK and the EU Tuesday  announced sanctions against 3 individuals and 4 entities for supplying weapons and military equipment to the Myanmar military. The sanctions announced respond to the ongoing and increasing aerial attacks by the Myanmar military regime. Over the last six months, military airstrikes killed almost 400 civilians, including more than 60 children, and injured more than 750 people.

  Sandler, Travis & Rosenberg P.A., has announced that beginning Nov. 1 it will be able to accredit non-government agency training materials for purposes of the new continuing education requirement for licensed customs brokers “ST&R is proud to be one of only five organizations, and the only law firm, selected by U.S. Customs and Border Protection to serve as accreditors,” said Lenny Feldman, who serves as managing partner, Operating Committee, for the firm. ST&R to Begin Accrediting Continuing Education Resources for Customs Brokers Sandler, Travis & Rosenberg P.A., has announced that beginning Nov. 1 it will be …

The State Department, Commerce and the Treasury announced sweeping sanctions on nearly 400 individuals and entities across 17 jurisdictions involved in providing advanced technology, equipment, and financial support to Russia’s military-industrial complex.

The total amount of claims of 17 Russian TV channels to Google has reached 2 undecillion rubles, according to reporting by RBC . Undecillion is a unit with 36 zeros. Dating to a 2020 decision to block YouTube accounts controlled by parties subject to the 2014 US sanctions, Google's troubles compounded when it blocked Sputnik, RT and other state controlled channels in February 2022.

President Biden has announced the allocation of $3 billion through the Environmental Protection Agency’s (EPA) Clean Ports program, part of the Inflation Reduction Act, to 55 projects across 27 states and territories. The Maryland Port Administration will receive $147 million in funding, aimed at both implementation and planning. "The initiative will modernize port infrastructure, foster cleaner operations, and improve working conditions, while promoting economic growth and environmental justice," according to the White House.

…Monday the Treasury Department published the final language of the outbound investment requlations, governing US firm's investment in Chinese strategic technology. The Treasury issued a final rule to implement Executive Order 14105 of August 9, 2023, “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern” (the Outbound Order).  The Final Rule provides the operative regulations and a detailed explanatory discussion regarding their intent and application. 

The Treasury announced Tuesday that the United States and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), will begin negotiations on a comprehensive agreement to address double taxation issues. The first round of negotiations is expected to take place in the coming weeks.

The Financial Action Task Force (FATF) failed to reach consensus on blacklisting Russia, with the opposition led by China, India, Saudi Arabia, and South Africa, and UN Secretary General Antonio Guterres flew to Kazan to shake hands and bow to Russian leader Vladimir Putin, sending a tacit message to petty tyrants and hedgemonists everywhee.

A sanctioned fugitive Venezuelan television news network owner has been charged for his role in a $1.2 billion scheme to launder funds corruptly obtained from Venezuela’s state-owned and state-controlled energy company, Petróleos de Venezuela S.A. (PDVSA), in exchange for hundreds of millions in bribe payments to Venezuelan officials.

The Millennium Challenge Corporation (MCC) of the United States has signed a five-year Compact with the Government of the Republic of Zambia (GRZ) to promote economic growth and reduce poverty through investments in agriculture and agro-processing. The Compact, valued at $491,750,000, includes $458,000,000 from the MCC and $33,750,000 from GRZ. The program focuses on overcoming constraints to economic growth, such as poor roads, limited private capital for agricultural investment, and an uncertain policy environment.

Australia, the U.K. and the U.S. — all members of the AUKUS trilateral partnership — participated in "Maritime Big Play," a series of integrated experiments and exercises held in the Indo-Pacific region, meant to enhance capability development and improve interoperability between the partners.  As part of the experiments and exercises, the AUKUS partners tested and refined their ability to jointly operate uncrewed maritime systems, share and process naval data, and provide real-time maritime domain awareness in support of decision-making,.

The Materials and Equipment Technical Advisory Committee will meet on November 7, 2024, 10:00 a.m.- 3:00 p.m., Eastern Standard Time, in the Herbert C. Hoover Building, The Open session will include presentations by Livingston International and the Hydraulic Institute Valve Association

On October 24 and 25, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) joined the Financial Transactions and Reports Analysis Centre (FINTRAC) of Canada in co-hosting the first FinCEN-FINTRAC Anti-Money Laundering/Anti-Terrorist Financing Symposium. The Symposium, held in Ottawa, Canada, brought together financial intelligence units (FIUs) and law enforcement agencies from Canada, the United States, Australia, the Netherlands, and the United Kingdom, as well as U.S.- and Canada-based financial institutions, to discuss a variety of money laundering and terrorist financing issues.

Supply-chain finance is crucial for enabling global trade but remains inaccessible to many small businesses in developing economies, impeding their growth and participation in international commerce, contend Ngozi Okonjo-Iweala and Makhtar Diop in an article published by Project Syndicate October 23. Despite the global value of supply-chain finance reaching $2.3 trillion, “most businesses in developing countries remain on the sidelines,” hindered by weak legal frameworks, high costs, and limited infrastructure.

Reuters reports that Turkey's Halkbank has been found not to be immune from charges it helped Iran evade American sanctions. The 2nd Circuit court rejected the state-owned lender's argument that it deserved immunity.

Executive Order 14114, issued by President Biden on December 22, 2023, amends E.O. 14068 to ban the importation of certain seafood and diamonds originating from the Russian Federation. The order mandates that the Department of Homeland Security (with the Treasury's concurrence) implement data collection for enforcing these prohibitions. Filed on: 10/21/2024 at 8:45 am Scheduled Pub. Date: 10/22/2024 FR Document: 2024-24341 PDF 9 Pages (126 KB) …

« Prev | 1 11 | 12 | 13 | 14 | 15 | 16 | 17 80 | Next »
Currently viewing stories posted within the past 2 years.
For all older stories, please use our advanced search.