The Soltesz Institute’s Post

This article from AMLintelligence.com discusses anticipated changes to U.S. anti-money laundering (AML) and sanctions policies with Donald Trump’s return to office. His administration's influence could reshape regulatory approaches at key departments like Treasury and Justice, impacting agencies such as FinCEN and OFAC. A significant shift in crypto-related policies is also expected. For detailed insights into these potential policy changes, you can view the article here: https://lnkd.in/dy_Q24xF

The Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Russia-related General License 109, "Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on September 13, 2024" and Russia-related General License 25F, "Authorizing Transactions Related to Telecommunications and Certain Internet-Based Communications." OFAC also published an updated, Russia-related Frequently Asked Question (FAQ 1040). Additionally, OFAC published a rule on Updating Provisions Related to Blocking and Other Actions Related to Specific Property or Interests in Property. For more detail: https://lnkd.in/dsYU_A9v 📩Please contact us at info@apccompliance.net., if you wish to learn more about the latest Sanctions news.

As a fun side project, I've launched an OFAC & Consolidated Screening List Tracker on Twitter (@OFAC_Tracker, https://x.com/OFAC_Tracker)! It posts updates every morning at 9am EST, if the Consolidated Screening List has been updated. This should help industries, attorneys, and gov't agencies know when new persons/entities become subject to trade restrictions. Also, the code is open-source and available here: https://lnkd.in/dn7pss3i Not affiliated with OFAC, U.S. Department of the Treasury, or other US Gov't agencies - just a tool that should be useful for those interested in sanctions and export controls.

🚨𝐒𝐭𝐚𝐭𝐞 𝐒𝐭𝐫𝐞𝐞𝐭 𝐭𝐨 𝐏𝐚𝐲 $7.5𝐌 𝐭𝐨 𝐒𝐞𝐭𝐭𝐥𝐞 𝐑𝐮𝐬𝐬𝐢𝐚 𝐒𝐚𝐧𝐜𝐭𝐢𝐨𝐧𝐬 𝐕𝐢𝐨𝐥𝐚𝐭𝐢𝐨𝐧𝐬: The U.S. Department of the Treasury's 𝐎𝐟𝐟𝐢𝐜𝐞 𝐨𝐟 𝐅𝐨𝐫𝐞𝐢𝐠𝐧 𝐀𝐬𝐬𝐞𝐭𝐬 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 announced a $7,452,501 #Settlement with 𝐒𝐭𝐚𝐭𝐞 𝐒𝐭𝐫𝐞𝐞𝐭 𝐁𝐚𝐧𝐤 and Trust Company and its subsidiary, Charles River Systems, Inc. This settlement addresses 38 apparent violations of OFAC's 𝐔𝐤𝐫𝐚𝐢𝐧𝐞-/𝐑𝐮𝐬𝐬𝐢𝐚-𝐑𝐞𝐥𝐚𝐭𝐞𝐝 sanctions. Between 2016 and 2020, Charles River redated or reissued #Invoices and accepted certain payments outside of the applicable debt tenor from customers subject to 𝐃𝐢𝐫𝐞𝐜𝐭𝐢𝐯𝐞 1 𝐨𝐟 𝐄𝐱𝐞𝐜𝐮𝐭𝐢𝐯𝐞 𝐎𝐫𝐝𝐞𝐫 13662. This settlement underscores the importance of #Strict compliance with OFAC regulations. Financial institutions must ensure 𝐫𝐨𝐛𝐮𝐬𝐭 𝐬𝐚𝐧𝐜𝐭𝐢𝐨𝐧𝐬 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐩𝐫𝐨𝐠𝐫𝐚𝐦𝐬 to prevent similar violations. For more details, refer to OFAC’s official publication (link in the comment section). #SanctionsCompliance #OFAC #StateStreet #RussiaSanctions

From Foley Hoag LLP: This blog post examines the key areas where we anticipate regulatory rollbacks, as well as the potential expansion of enforcement in other domains like sanctions and foreign investment reviews. #sec #cftc #cfius #enforcementtrends #trumpadministration

📢 Our #AML and sanctions data collection is now live You can find out more below, including what information to provide and who at your firm can complete the questionnaire. There's also a question and answer section that goes into further detail. https://lnkd.in/dDB3HAUz

Given current world events, ensuring you have an airtight compliance plan in place has become table stakes for doing business. LexisNexis Risk Solutions can help you ante up.

Get up-to-speed on #sanctions data and insight from 2023 with the latest in our Sanctions Pulse series. #financialcrimecompliance

Get up-to-speed on #sanctions data and insight from 2023 with the latest in our Sanctions Pulse series. #financialcrimecompliance