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Treasury Statement on European Commission List of Jurisdictions with Strategic AML/CFT Deficiencies

Washington – Today, the European Commission issued a list of purportedly high-risk jurisdictions “posing significant threats” to the European Union’s financial system as a result of strategic deficiencies in their Anti-Money Laundering and Countering the Financing of Terror (AML/CFT) regimes.  The U.S. Department of the Treasury has significant concerns about the substance of the list and […]

OFAC Advisory to the Maritime Petroleum Shipping Community

DEPARTMENT OF THE TREASURY WASHINGTON, D.C. 20220 Issued : November 20, 2018 Subject : Sanctions Risks Related to Shipping Petroleum to Syria The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), with the U.S. Department of State and the U.S. Coast Guard, is issuing this advisory to alert persons globally to the […]

EU publishes money laundering blacklist, urges banks to apply customer due diligence (CDD)

The European Commission on Tuesday adopted a list of countries it says has weak anti-money laundering and terrorist financing regimes, and urged banks to increase customer due diligence (CDD) checks on customers and firms from the blacklisted states. The list was established after an ‘in-depth’ analysis, the Commission explained, and the methodology reflected the ‘stricter’ […]