LATEST: New study finds criminals and sanctioned officials can ‘easily breach’ anti-financial crime regulations

Regulatory Watch News

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  Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

  OFAC

  November 21, 2024

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took another major step in implementing commitments made by G7 leaders to curtail Russia’s use of the international financial system to further its war against Ukraine. OFAC’s action includes the designation of Gazprombank, more than 50 internationally connected Russian banks, more than 40 Russian securities registrars, and 15 Russian finance officials. OFAC is also issuing an alert describing sanctions risks related to Russia’s System for Transfer of Financial Messages (SPFS), which the Kremlin created and uses to evade sanctions.

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  Financial sanctions update: Global Anti-Corruption

  OFSI

  November 21, 2024

  On 21 November 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 entries have been added under the Global Anti-Corruption financial sanctions regime and are now subject to an asset freeze:

  • Isabel Dos Santos (Group ID: 16694)
  • Dmitry Vasylovych Firtash (Group ID: 16699)
  • Lada Pavlovna Firtash (Group ID: 16700)
  • Denis Vladimirovich Gorbunenko (Group ID: 16701)
  • Liga Lemberga (Group ID: 16698)
  • Aivars Lembergs (Group ID: 16697)
  • Paula Cristina Fidalgo Carvalho Das Neves Oliveira (Group ID: 16696)
  • Sarju Raikundalia (Group ID: 16695)

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  Austria: 15 arrests in €3.5 million fraud investigation involving RRF funds

  European Public Prosecutor's Office

  November 21, 2024

  (Luxembourg, 21 November 2024) – This week (19 November), at the request of the European Public Prosecutor’s Office (EPPO) in Vienna and Graz (Austria), the Vienna Criminal Police (Landeskriminalamt Wien) arrested 15 suspects and carried out 37 searches in Vienna and its surroundings. On the radar of the EPPO are several criminal organisations that are suspected of defrauding over €3.5 million from the so-called ´Reparaturbonus´ (´Repair Bonus´) programme financed by the EU via the Recovery and Resilience Fund (RRF). The ´Reparaturbonus´ is an initiative of the Austrian government, which promotes and incentivises the repair of electronic devices and household appliances. Its purpose is to encourage sustainability, reduce electronic waste and support local repair business.