Anti-Financial Crime & Financial Crime Compliance
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LATEST: EU governments demand OFAC-style agency to tackle ‘massive’ sanctions evasion by Russians across the bloc

RUSSIA SANCTIONS: Proposals by the European Parliament to give AMLA a role in sanctions enforcement is likely to be rejected by European governments, AML Intelligence has learned. Separately, Dutch foreign minister Wopke Hoekstra wants a new EU sanctions agency - similar to OFAC in the US - established here. A move that is seen as more likely by EU officials.

By STEPHEN RAE for AMLi EUROPE should have its own OFAC-style agency enforcing EU sanctions, 12 Member States have demanded. The governments – led out by the Netherlands – are supporting the proposal to take on widespread sanctions evasion by oligarchs and Russian industry. Sanctions were “being evaded on a massive scale”, the Dutch Foreign…

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