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LATEST: American Express closes 30 consumer accounts linked to Iranian regime

Premium February 7, 2025

CREDIT CARD: American Express has closed consumer accounts linked to the Iranian regime. OFAC TARGETS IRAN: A new round of US sanctions targeted China based companies co-operating with Iran. File photo shows an Iranian man and a woman stand in front of a giant portrait of Iran’s Supreme Leader Ayatollah Ali Khamenei which is displayed on a screen in the Iranian Petroleum Industry Research Institute’s stand, at the International Oil, Gas, Refining and Petrochemical Exhibition in Tehran on May 13, 2022.

NEWS: Ex-Credit Suisse executive Lara Warner fined for failing to report suspicious transactions

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NEWS: South Africa aims to exit FATF greylist in October

Dmitry Ovsyannikov Premium

NEWS: Putin ally Dmitrii Ovsiannikov first to be prosecuted for breaching UK sanctions

By AML Intelligence Correspondent U.S. credit card giant American Express identified and closed 30 consumer accounts in 2024 that it said could have had ties to the Government of Iran. The accounts were only used for personal expenses, AmEx said in a regulatory filing on Friday. It also ended its relationship with a third-party ATM…

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NEWS: Ex-Credit Suisse executive Lara Warner fined for failing to report suspicious transactions

 Premium

NEWS: South Africa aims to exit FATF greylist in October

Dmitry Ovsyannikov Premium

NEWS: Putin ally Dmitrii Ovsiannikov first to be prosecuted for breaching UK sanctions

Regulatory Watch News

  • Former Art Advisor Lisa Schiff Sentenced To 30 Months In Prison For Defrauding Clients

    United States Attorney Office -Southern District of New York

    Matthew Podolsky, the Acting United States Attorney for the Southern District of New York, announced today that LISA SCHIFF, a Manhattan-based art advisor focused on contemporary art, was sentenced today to 30 months in prison by U.S. District Judge J. Paul Oetken for perpetrating a multi-year scheme in which she defrauded the clients of her art advisory business of approximately $6.5 million in connection with the purchase and sale of approximately fifty-five artworks.

  • Operation Henhouse: 422 arrests and £7.5m seized in national crackdown on fraud

    National Crime Agency

    422 people have been arrested in a UK-wide campaign against fraud, coordinated by the National Economic Crime Centre and City of London Police. The activity, which was the fourth iteration of the multi-agency Operation Henhouse, ran across February 2025 and resulted in:

    • 422 arrests
    • 155 voluntary interviews
    • 362 cease and desist notices
    • account freezing orders against £3.9m
    • seizures of cash and assets worth £7.5m

  • Statement by the High Representative on behalf of the EU on the alignment of certain third countries with Council Decision concerning restrictive measures in view of the situation in Syria

    European Council

    The Council decided that a number of restrictive measures should be suspended, that certain exemptions should be introduced and that the reference to an expiration date for the humanitarian exemption, as outlined in Council Decision (CFSP) 2024/1496, should be removed. The Council also decided that six entities should be removed from the list of natural and legal persons, entities or bodies subject to the freezing of funds and economic resources and the prohibition of making funds or economic resources available to them, and that the assets of one of those entities should remain frozen.

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