ANALYSIS: TD ‘chose profits over compliance’ – U.S. law chief; bank had ‘convenient atmosphere’ for money laundering

Regulatory Watch News

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  United States and Canada Target Key International Fundraiser for Foreign Terrorist Organization PFLP

  OFAC

  October 15, 2024

  WASHINGTON — Today, in a joint action with Canada, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the Samidoun Palestinian Prisoner Solidarity Network, or “Samidoun,” a sham charity that serves as an international fundraiser for the Popular Front for the Liberation of Palestine (PFLP) terrorist organization. The PFLP, which was designated as a Foreign Terrorist Organization and a Specially Designated Global Terrorist by the U.S. Department of State in October 1997 and October 2001, respectively, uses Samidoun to maintain fundraising operations in both Europe and North America. Also designated today is Khaled Barakat, a member of the PFLP’s leadership. Together, Samidoun and Barakat play critical roles in external fundraising for the PFLP. Today’s action is being taken pursuant to the counterterrorism authority Executive Order (E.O.) 13224, as amended.

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  Financial sanctions update: Global Human Rights

  OFSI

  October 15, 2024

  7 entries added to the consolidated list

  On 15 October 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 to the Global Human Rights financial sanctions regime and are now subject to an asset freeze:

  • Amana (Group ID: 16577)
  • Hashomer Yosh (Group ID: 16578)
  • Meitarim Outpost (Group ID: 16573)
  • Od Yosef Chai Yeshiva (Group ID: 16574)
  • Shuvi Eretz Outpost (Group ID: 16575)
  • Tirzah Valley Farm (Group ID: 16572)
  • Torat Lechima (Group ID: 16576)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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  Request for Proposals: Egmont Group Data Matching Project

  The Egmont Group

  October 15, 2024

  The Egmont Group Secretariat (EGS) seeks proposals from potential vendors to plan, develop, and train the EGS IT team to a Data Matching system that will allow Financial Intelligence Unites (FIUs) identify hits between subjects of interest of one FIU and those of another, without revealing the list of queried subjects to the other FIU. The successful candidate will be selected based on their experience and the appropriateness of their proposals in meeting the Egmont Group (EG) needs. The successful vendor will be required to develop the Matching system based on the requirements provided by the EGS.