By Vish Gain for AML Intelligence PAKISTAN has made significant progress in its fight against money laundering according to the latest FATF assessment conducted by the Asia-Pacific Group, a regional body aimed at implementing AML standards. In its second follow-up report of a mutual evaluation of Pakistan, APG found that the South Asian has been…
Regulatory Watch News
Ukraine-/Russia-related Designation Removal
OFAC
The following deletions have been made to OFAC's Sectoral Sanctions Identifications List:
SBERBANK (SWITZERLAND) AG, Gartenstrasse 24, 8002 Zurich, Switzerland; PO Box 2136, Zurich 8027, Switzerland; Freigutstrasse 16, 8027 Zurich, Switzerland; SWIFT/BIC SLBZCHZZ; Website www.slb-bank.ch; Executive Order 13662 Directive Determination - Subject to Directive 1; Secondary sanctions risk: Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201 and/or 589.209; Registration ID CH-020.3.908.277-7 (Switzerland); alt. Registration ID CHE-106.291.569 (Switzerland);SEC Charges Audit Firm BF Borgers and Its Owner with Massive Fraud Affecting More Than 1,500 SEC Filings
SEC
Washington D.C., May 3, 2024 —
The Securities and Exchange Commission today charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers (together, “Respondents”), with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023. The SEC also charged the Respondents with falsely representing to their clients that the firm’s work would comply with PCAOB standards; fabricating audit documentation to make it appear that the firm’s work did comply with PCAOB standards; and falsely stating in audit reports included in more than 500 public company SEC filings that the firm’s audits complied with PCAOB standards.Financial sanctions update: Global Human Rights
OFSI
On 3 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 6 entries have been added to the Global Human Rights financial sanctions regime and are now subject to an asset freeze:
- Neria Ben Pazi (Group ID: 16486)
- Noam Federman (Group ID: 16489)
- Eden Levi (Group ID: 16485)
- Elisha Yered (Group ID: 16493)
- Hilltop Youth (Group ID: 16487)
- Lehava (Group ID: 16488)
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