NEWS: Nordea’s inadequate CDD, high-risk banking partners, Panama Papers links lead to $35m US fine

Regulatory Watch News

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  Joint Statement on the Second Annual Export Enforcement Five Conference

  US Department of Commerce

  September 18, 2024

  Washington, D.C., September 18, 2024 – Representatives from the United States, Australia, Canada, New Zealand, and the United Kingdom, collectively known as the Export Enforcement Five or E5, gathered in Washington, D.C. on September 17 and 18, 2024, and reaffirmed their commitment to combatting Russia’s circumvention of export controls and sanctions in attempts to obtain dual-use items to support its illegal invasion of Ukraine. Since its establishment in 2023, the E5 have made significant strides in export control and sanctions enforcement actions. Together, we have diligently collaborated to enhance export control measures and implement targeted sanctions in response to Russia’s invasion of Ukraine.

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  Treasury Sanctions Iranian Officials Connected to Human Rights Violations

  OFAC

  September 18, 2024

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating 12 individuals in connection with the Iranian regime’s ongoing, violent repression of the Iranian people, both within Iran’s borders and abroad. These designations target members of the Islamic Revolutionary Guard Corps (IRGC), officials of Iran’s Prisons Organization, and those responsible for lethal operations overseas. Today’s action is being taken in coordination with Canada and Australia, which have also unveiled new sanctions against those connected to human rights abuses in Iran.

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  Global Coalition Takes Down New Criminal Communication Platform

  Europol

  September 18, 2024

  Europol and Eurojust, together with law enforcement and judicial authorities from around the world, have successfully dismantled an encrypted communication platform that was established to facilitate serious and organised crime perpetrated by dangerous criminal networks operating on a global scale. The platform, known as Ghost, was used as a tool to carry out a wide range of criminal activities, including large-scale drug trafficking, money laundering, instances of extreme violence and other forms of serious and organised crime.

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