Anti-Financial Crime & Financial Crime Compliance
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    • Regulatory Watch News

    • Counter Terrorism Designations; The U.S. Department of the Treasury’s Office of Foreign Assets Control Assesses a Civil Monetary Penalty against GVA Capital, Ltd.

      OFAC

      The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has assessed a $215,988,868 civil monetary penalty against GVA Capital Ltd. of San Francisco, California for violations of OFAC's sanctions against Russia and for related reporting obligations. GVA Capital knowingly managed an investment for sanctioned Russian oligarch Suleiman Kerimov while aware of his blocked status. GVA Capital also failed to comply with an OFAC subpoena during OFAC's investigation into this matter. The penalty amount reflects OFAC's determination that GVA Capital's conduct was egregious and not voluntarily self-disclosed.

    • Six Defendants Charged In Multimillion-Dollar Check Theft And Bank Fraud Ring

      United States Attorney Office -Southern District of New York

      “As alleged, the six defendants charged today lined their pockets by stealing checks destined for hard working New Yorkers and others,” said U.S. Attorney Jay Clayton. “Together with our partners at the Postal Inspection Service, we will fight to protect the integrity of the U.S. mail system—a public service upon which millions of Americans rely every day to send items of financial, professional, and personal importance.”

    • FINTRAC imposes an administrative monetary penalty on Hub Capital Inc.

      FINTRAC

        FINTRAC announced today that it has imposed an administrative monetary penalty on Hub Capital Inc. Following a compliance examination in 2023, this independent wealth management firm in Woodbridge, Ontario, considered as a securities dealer, was imposed an administrative monetary penalty of $99,000 on March 21, 2025, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.

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