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NEWS: Yellen announces new effort to prevent Amazon basin illicit finance; threat of sanctions on environmental criminals

Premium July 28, 2024

AMAZON: "Globally, nature crimes are estimated to generate proceeds in the hundreds of billions of dollars annually and often entail misusing and abusing the U.S. financial system," Treasury Secretary Janet Yellen said this weekend, adding that such trafficking is upsetting the ecological balance of the Amazon rainforest, the livelihoods of local communities, and national economies in the region. Our file photo shows an aerial view of a natural lake fed by a spring in the Amazon River basin near Manaus, Brazil.

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NEWS: UK uses sanctions against citizen involved with ‘New IRA’ terror group

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NEWS: Norway wealth fund’s watchdog to probe shoemakers, crypto firms over ethics in 2025

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NEWS: ‘Australia had a hole in its AML standards for a long time’ – head of AUSTRAC

By AML Intelligence Correspondents U.S. Treasury Secretary Janet Yellen has launched a new effort with Amazon basin governments to disrupt illicit finance that fuels nature crimes, including illegal harvesting of trees and other plants, minerals and wildlife. Yellen said on Saturday that the initiative aims to increase cooperation among finance ministries, law-enforcement agencies and other…

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NEWS: UK uses sanctions against citizen involved with ‘New IRA’ terror group

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NEWS: Norway wealth fund’s watchdog to probe shoemakers, crypto firms over ethics in 2025

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NEWS: ‘Australia had a hole in its AML standards for a long time’ – head of AUSTRAC

Regulatory Watch News

  • Treasury Intensifies Pressure on Iranian Shadow Fleet

    US Department of the Treasury

    WASHINGTON — Today, the United States is imposing sanctions on 35 entities and vessels that play a critical role in transporting illicit Iranian petroleum to foreign markets. This action imposes additional costs on Iran’s petroleum sector following Iran’s attack against Israel on October 1, 2024, as well as Iran’s announced nuclear escalations, building upon the sanctions issued on October 11. Petroleum revenues provide the Iranian regime with the resources to fund its nuclear program, develop advanced drones and missiles, and provide ongoing financial and material support for the terrorist activities of its regional proxies.

  • Financial sanctions update: Counter-Terrorism (Domestic)

    OFSI

    1 entry has been added to the consolidated list under the Counter-Terrorism (Domestic) regime. On 3 December 2024, pursuant to The Counter-Terrorism Regulations, HM Treasury designated the following individual, who is now subject to an asset freeze:

    • Brian Anthony Sheridan (Group ID: 16705)
    This action is the third use of the Treasury-led domestic counter terrorism regime, used to target those who it has reasonable grounds to suspect are involved in terrorist activity.

  • Drug cartel grind to a halt with six major arrests in Colombia

    Europol

    In a long-term investigation supported by Europol, law enforcement authorities from Belgium, Colombia and Spain have dismantled a drug ring orchestrating large-scale cocaine trafficking from Colombia to the EU. The national authorities involved arrested 32 individuals in total, including the leader of the network. Law enforcement also seized 5.8 tonnes of cocaine in Colombia (Cartagena and Baranquilla) and on European soil in Spain (Barcelona and Valencia) and Belgium (Antwerp). The sting was coordinated by Europol’s Operational Taskforce.

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