AML Compliance

Treasury Sanctions Exploit Broker Network for Cyber Tools

The U.S. Department of the Treasury's OFAC has sanctioned four individuals and one entity for their involvement in a network that exploits and sells U.S. government cyber tools. These designations are related to Russia-related sanctions and cyber-related activities.

OFAC Settles Syrian Sanctions Violations for $3,777,000

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced an individual settled potential civil liability for $3,777,000 related to apparent violations of Syrian sanctions. The violations involved providing managerial services to Syrian real estate companies between January 2018 and December 2021.

Venezuela-related FAQ on Oil Resale

The Office of Foreign Assets Control (OFAC) has issued a new Frequently Asked Question (FAQ 1238) regarding the resale of Venezuelan origin oil to Cuba. This FAQ provides clarification on existing sanctions regulations.

OFAC Sanctions Iran's Shadow Fleet and Missile Programs

The US Treasury Department's OFAC has sanctioned Iran's shadow fleet and entities involved in its ballistic missile and weapons programs. Seventeen entities and four individuals have been added to the Specially Designated Nationals (SDN) List, subjecting them to secondary sanctions.

OFAC Sanctions Nicaragua Individuals; Amends Russia License

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned five individuals in Nicaragua and issued an amended Russia-related General License. These actions update OFAC's Specially Designated Nationals (SDN) List and provide guidance on specific transactions.

OFAC Removes Russia and Lebanon Sanctions Designations

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has removed several individuals from its Specially Designated Nationals (SDN) List. These removals include designations related to Russia and Lebanon, with some individuals previously linked to the Wagner Group. This action updates OFAC's sanctions lists and impacts entities that previously had dealings with these designated parties.

OCC National Bank Chartering Rule on Non-Fiduciary Activities

The Office of the Comptroller of the Currency (OCC) has amended its national bank chartering rule concerning non-fiduciary activities. This final rule, published in the Federal Register, will take effect on April 1, 2026.

FinCEN Proposes Special Measure Against Swiss MBaer Bank

The Financial Crimes Enforcement Network (FinCEN) has proposed a special measure against MBaer Merchant Bank AG, a Swiss financial institution, identifying it as a primary money laundering concern. This proposal aims to protect the U.S. financial system from illicit finance.

MutualOne Bank Consent Order

The Division of Banks and the FDIC have issued a consent order against MutualOne Bank. The order requires the bank's Board of Directors to ensure their supervision and direction of management are commensurate with the bank's size and risk profile, and to complete an independent assessment of the board and management within 90 days.

Block, Inc. Consent Order with NY DFS

The New York State Department of Financial Services (DFS) has entered into a consent order with Block, Inc. (formerly Square, Inc.) resolving an enforcement investigation into deficiencies in its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program and violations of consumer protection regulations. Block will pay a penalty to resolve these matters.