BREAKING: TD Bank’s nightmare week gets worse – accused of laundering cash for China fentanyl gangs as regulator fines lender $6.7M for STR failures

Regulatory Watch News

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  Financial sanctions update: DPRK, Russia, DRC, ISIL (Da’esh) and Al-Qaida & Burundi

  OFSI

  May 17, 2024

  On 17 May 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act.  The following entries have been added to the Democratic People’s Republic of Korea financial sanctions regime and are now subject to an asset freeze: 

  • Aleksey Mikhailovich Vorotnikov (Group ID: 16499) 
  • Paekyangsan Shipping Co Ltd (Group ID: 16495) 
  • Toplivo Bunkering Company (Group ID: 16496) 

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  Treasury Sanctions Nicaragua-Based Russian Institution and Gold Companies

  OFAC

  May 15, 2024

  WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting the Ortega-Murillo regime’s repression of the Nicaraguan people and its ability to manipulate the gold sector and profit from corrupt operations. Treasury is imposing sanctions on three Nicaragua-based entities, the Training Center of the Russian Ministry of Internal Affairs in Managua (RTC); Compania Minera Internacional, Sociedad Anónima (COMINTSA); and Capital Mining Investment Nicaragua, Sociedad Anónima (Capital Mining), pursuant to Executive Order (E.O.) 13851, as amended.

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  Romania: EPPO conducts searches in probe into €8 million fraud involving Covid-19 medical equipment

  European Public Prosecutor's Office

  May 15, 2024

  (Luxembourg, 15 May 2024) – The European Public Prosecutor’s Office (EPPO) in Bucharest (Romania) carried out five searches yesterday in the Romanian capital, as part of an investigation into an €8 million fraud involving EU funds for the purchase of medical equipment during the Covid-19 pandemic. According to the investigation, during the period 2020-2022, a criminal network was formed to manipulate the public procurement of protective masks, disinfectants and other medical supplies for hospitals, schools and other municipal state facilities, in order to benefit predetermined suppliers, which are understood to have been part of the scheme.