News & Analysis as of September 19, 2024

FinCEN › Iran Sanctions

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of... more +

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Risk to Israeli Entities Posed by International Sanctions – What Is the Exposure and What Are the Dangers?

Barnea Jaffa Lande & Co. on 2/23/2024

The executive order signed by United States President Joseph Biden in February 2024 states that the violence being committed by Israeli settlers has reached intolerable levels; poses a serious threat to peace, security, and...more

Treasury Seeks More Visibility Into Iran-Related Humanitarian Transactions

K2 Integrity on 11/15/2019

The Treasury Department on October 25, 2019, imposed a ban on correspondent account relationships involving Iranian financial institutions under Section 311 of the USA PATRIOT Act – activities that were already prohibited by...more

U.S. government announces enhanced due diligence process for humanitarian trade with Iran and identifies Iran as a jurisdiction of...

Hogan Lovells on 11/8/2019

On 25 October the U.S. Departments of the Treasury and State announced the establishment of a new channel for conducting due diligence on humanitarian trade with Iran. Foreign governments and foreign financial institutions...more

Iran sanctions update – US announces it will not re-issue sanctions waivers for Iran oil imports to any country

Eversheds Sutherland (US) LLP on 4/29/2019

On Monday, the United States announced that it would not extend the temporary waivers that were granted to eight countries last November allowing them to purchase Iranian oil without threat of sanctions. The temporary waivers...more

Review of Anti-Money Laundering and Sanctions Policy and Enforcement

White & Case LLP on 1/22/2019

TABLE OF CONTENTS: Executive Summary - Developments and Trends in Policy and Enforcement - US Department of the Treasury - The Office of Foreign Assets Control - Treasury's Financial Crimes Enforcement Network -...more

End of the Road: U.S. Sanctions on Iran Come Back Into Effect

Dechert LLP on 11/7/2018

On November 5, 2018, applicable wind-down periods for certain transactions with Iran ended and the second and final set of U.S. secondary sanctions that had been lifted pursuant to the Iran nuclear deal – the Joint...more

FinCEN Advisory Emphasizes Importance of U.S.-Iran Sanctions and AML/CFT Compliance for Virtual Currency Businesses

Perkins Coie on 10/19/2018

On October 11, 2018, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released an advisory (the Advisory) intended to help money services businesses (MSBs) and foreign financial institutions...more

Cross-Border Investigations Update - November 2017

Skadden, Arps, Slate, Meagher & Flom LLP on 12/2/2017

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more

Red Notice Newsletter - November 2017

Akin Gump Strauss Hauer & Feld LLP on 12/1/2017

ANTICORRUPTION DEVELOPMENTS – SBM Offshore N.V. Agrees to Pay $238 Million to Resolve DOJ FCPA Enforcement Action - On November 29, 2017, SBM Offshore N.V. (SBM), a Netherlands based company specializing in the...more

Red Notice Newsletter - October 2017

Akin Gump Strauss Hauer & Feld LLP on 11/2/2017

ANTICORRUPTION DEVELOPMENTS – Global Compliance Overhaul for SAP as DOJ and SEC Investigate Payments Allegedly Related to South African Government Contracts – On October 26, 2017, German software company SAP SE...more

Anti-Money Laundering and Bank Secrecy Act Update

Moore & Van Allen PLLC on 10/24/2017

After the Panama Papers exposed efforts by wealthy individuals and government officials to hide funds offshore, government authorities around the world have responded with new legislation, regulations and enforcement actions...more

Red Notice Newsletter - Chinese

Akin Gump Strauss Hauer & Feld LLP on 8/10/2017

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation into...more

Red Notice Newsletter - Russian

Akin Gump Strauss Hauer & Feld LLP on 8/10/2017

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation into...more

Red Notice Newsletter - July 2017

Akin Gump Strauss Hauer & Feld LLP on 8/3/2017

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation into...more

Red Notice Newsletter - March 2017

Akin Gump Strauss Hauer & Feld LLP on 4/4/2017

Anticorruption Developments - SEC Chairman Nominee Jay Clayton Receives Confirmation Hearing - On March 23, 2017, SEC Chairman Nominee Jay Clayton testified before the Senate Banking Committee at his confirmation...more

Sanctions Roundup: Third Quarter 2016 and Executive Order on Burmese Sanctions

A&O Shearman on 11/3/2016

OFAC, acting under the direction of President Obama’s Executive Orders, has lifted the economic and financial sanctions against Burma and Côte D’Ivoire. The revisions open these countries, and their financial markets, to...more

Red Notice Newsletter - January 2016

Akin Gump Strauss Hauer & Feld LLP on 2/3/2016

ANTICORRUPTION DEVELOPMENTS - Convicted Printing Company Ordered to Pay £2.2 Million - On January 8, 2016, the Serious Fraud Office (SFO) announced that Smith & Ouzman Ltd, a U.K. security printing company, was...more

Corporate Investigations & White Collar Defense - May 2015

Manatt, Phelps & Phillips, LLP on 6/2/2015

It’s an Absolute Privilege to Meet You! Texas Supreme Court Rules That Internal Investigation Report Provided by Shell Oil to DOJ Enjoys “Absolute Privilege” - Why it matters: On May 15, 2015, the Texas Supreme Court...more

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