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NEWS: US Treasury urges banks to flag student aid fraud

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FinCen's head office in Vienna, Virginia

NEWS: US hits network of Iranian financier Zanjani with more sanctions

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NEWS: OCC denies Wise US banking licence, citing AML deficiencies

NEWS: Concerns of Palestinian economic crisis grow as Israeli banks prepare to cut ties

By CARLO BOFFA, EU Correspondent The US Treasury urged banks on Friday to detect, prevent and report fraudulent activity targeting government-backed student aid programmes. Criminals often use stolen and fake identities to enrol in educational programmes and unlawfully become recipients of grants. “Every dollar stolen from Federal student aid is a dollar taken from taxpayers…

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NEWS: US hits network of Iranian financier Zanjani with more sanctions

 Premium

NEWS: OCC denies Wise US banking licence, citing AML deficiencies

NEWS: Concerns of Palestinian economic crisis grow as Israeli banks prepare to cut ties

Regulatory Watch News

  • Treasury Further Dismantles Iranian Financier Zanjani’s Network

    US Department of the Treasury

    WASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designatedfour individuals and nine entities that form key components of Babak Zanjani (Zanjani)’s broader Iranian sanctions evasion network.  Zanjani has leveraged a diverse portfolio—including financial services, gold and precious gem production, digital asset trading, and major transportation and infrastructure projects—to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.

  • FinCEN Issues Alert on Fraud Schemes Targeting Federal Student Aid

    FinCEN

    Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government.

  • New guidance on verifying communications claiming to be from OFSI

    OFSI

    OFSI has published new guidance on how to verify whether communications claiming to be from OFSI are genuine. 

    The guidance provides information to help individuals verify communications claiming to be from OFSI, including signs that a communication may not be genuine and sets out what to do if you are unsure.  

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