Category: Fraud

Regulatory Watch News

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  Dual Pakistani-Canadian National Arrested for Years-Long Scheme to Circumvent U.S. Export Control Laws

  US Department of Justice

  March 28, 2025

  Defendants Allegedly Smuggled Millions of Dollars’ Worth of U.S. Goods and Technology to Entities Associated with Pakistan’s Military and Weapons Programs

  An indictment was unsealed yesterday charging Mohammad Jawaid Aziz, also known as Jawaid Aziz Siddiqui and Jay Siddiqui, 67, of Pakistan and Canada, with conspiracy to violate U.S. export laws and violating U.S. export laws. Siddiqui was arrested on March 21 in the Western District of Washington while attempting to cross into the United States from Canada. He remains detained, pending transfer to the District of Minnesota.

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  Treasury Targets Hizballah Finance Team Sanctions Evasion Network

  OFAC

  March 28, 2025

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating five individuals and three associated companies involved in a Lebanon-based sanctions evasion network supporting the Hizballah finance team.  The Hizballah finance team manages a variety of lucrative commercial projects and oil smuggling networks, often in conjunction with Iran’s Islamic Revolutionary Guard Corps – Qods Force (IRGC-QF), to generate and transfer revenue for Hizballah.  The Hizballah finance team uses front companies to generate millions of dollars in revenue for Hizballah and support the group’s terrorist activities, while also allowing key associates and family members, like those designated today, to enrich themselves through these commercial enterprises.

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  MONEYVAL Chair takes part in the seminar on the implementation of the EU AML/CFT package

  MONEYVAL

  March 28, 2025

  Chair of MONEYVAL, Mr Nicola Muccioli, took part in a seminar on the implementation of the EU anti-money laundering and countering financing of terrorism package, which was held in Warsaw on 27-28 March 2025. Organised under the Polish Presidency of a Council of the European Union, the seminar brought together high-level representatives from the European Commission, EU Anti-Money Laundering and Countering the Financing of Terrorism Authority (AMLA), European Banking Authority, EUROPOL and the EGMONT Group. The Chair delivered a speech during the opening session, emphasising the complementary work of MONEYVAL and the EU in combating money laundering and the financing of terrorism. The Chair also highlighted the beneficial role of AMLA in directing AML/CFT supervision and FIU work, while noting the importance of adequate resources to support its effectiveness.