Tag: Risk

Regulatory Watch News

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  Defense Contractor Pleads Guilty to Fraud, Money Laundering and Unlawful Export of Military Data

  US Department of Justice

  May 8, 2024

  Yuksel Senbol, 36, of Orlando, pleaded guilty to 25 felony counts in Florida federal court, including conspiracy to defraud the United States, conspiracy to commit wire fraud, eight counts of wire fraud, conspiracy to commit money laundering, seven counts of money laundering, conspiracy to violate the Export Control Reform Act (ECRA), four counts of violating the ECRA, and one count of violating the Arms Export Control Act.

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  FinCEN Issues Advisory on Iran-Backed Terrorist Organizations

  FinCEN

  May 8, 2024

  WASHINGTON — Today, in light of intensified terrorist activity in the Middle East, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Advisory to assist financial institutions in detecting potentially illicit transactions related to Islamic Republic of Iran-backed terrorist organizations. The Advisory highlights the means by which certain terrorist organizations receive support from Iran and describes several typologies these terrorist organizations use to illicitly access or circumvent the international financial system to raise, move, and spend funds. It also provides red flags that may assist financial institutions in identifying related suspicious activity.

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  Financial sanctions update: Russia

  OFSI

  May 8, 2024

  On 8 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 entry has been amended under the Russia financial sanctions regime and remains subject to an asset freeze and trust services sanctions:

  • Said Mikhailovich Gutseriev (Group ID: 15418)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.