On 21 March 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) removed Tornado Cash, a virtual currency mixer, from its list of Specially Designated Nationals and Blocked Persons (SDN List),...more
3/25/2025
/ Anti-Money Laundering ,
Blockchain ,
Chevron Deference ,
Compliance ,
Cryptocurrency ,
Delisting ,
Digital Assets ,
Economic Sanctions ,
International Emergency Economic Powers Act (IEEPA) ,
Loper Bright Enterprises v Raimondo ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Risk Management ,
SCOTUS ,
SDN List ,
U.S. Treasury
On 9 October 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) published its first ever unilateral guidance specifically addressed to financial institutions (FIs). The Guidance to Financial...more
10/22/2024
/ Bureau of Industry and Security (BIS) ,
Compliance ,
Country of Origin ,
Due Diligence ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Foreign Policy ,
Foreign Trade Zones ,
Jurisdiction ,
Military End Use ,
National Security ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Risk Assessment ,
Russia ,
SDN List ,
Self-Disclosure Requirements ,
Suspicious Activity Reports (SARs) ,
Voluntary Disclosure
On 12 June 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) issued new measures to further isolate Russia’s...more
6/18/2024
/ Blocking Sanctions ,
Bureau of Industry and Security (BIS) ,
Dubai Economic Security Center (DESC) ,
EU ,
Exports ,
Foreign Financial Institutions (FFI) ,
Jurisdiction ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SDN List ,
Shell Corporations ,
Software ,
U.S. Commerce Department ,
Ukraine
On 22 December 2023, the Biden administration issued Executive Order 14114, “Taking Additional Steps with Respect to the Russian Federation’s Harmful Activities” (EO 14114), thereby amending EOs 14024 and 14068. The new EO...more
1/11/2024
/ Aerospace ,
Biden Administration ,
CAPTA List ,
Construction Industry ,
Defense Sector ,
Due Diligence ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
Financial Services Industry ,
Foreign Financial Institutions (FFI) ,
Importers ,
Licenses ,
Manufacturing Facilities ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Sanction Violations ,
SDN List ,
Semiconductors ,
Technology Sector ,
Transparency ,
US State Departments
Approximately one year ago, in the immediate wake of Russia’s full-scale invasion of Ukraine, the United States (U.S.), United Kingdom (UK), and European Union (EU) launched a global sanctions campaign against Russia that...more
3/3/2023
/ AML/CFT ,
Banks ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Economic Sanctions ,
Enforcement ,
EU ,
Export Controls ,
Imports ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Risk Management ,
Russia ,
SDN List ,
Trade Policy ,
Ukraine