The Financial Crimes Enforcement Network (FinCEN) has issued its FinCEN Year in Review for FY 2022. The Year in Review is intended to help stakeholders gain insight into both FinCEN’s efforts to support law enforcement and national security agencies, and how financial information—filed pursuant to the Bank Secrecy Act (BSA)—is used.
A second conspirator has been arrested in a scheme to launder funds for the fugitive "Gas King of Ukraine," Sergey Kurchenko, through a Florida metals service center.
A West Virginia man pleaded guilty today to a federal felony offense for committing an export fraud violation, according to court documents and statements made during the hearing. Rana Zeeshan Tanveer, of Beckley, admitted in his plea agreement that he knowingly submitted false export valuations for certain items he shipped to Pakistan.
The U.S. Securities and Exchange Commission (SEC) has settled violations of the Foreign Corrupt Practices Act (FCPA) with Frank's International, a global oil services company. Between January 2008 and October 2014, Frank's paid commissions to a sales agent in Angola, knowing there was a high probability the agent would use the funds to bribe Angolan government officials on behalf of the company.
Assistant Secretary of Commerce for Export Enforcement Matt Axelrod issued an update to prior guidance on voluntary self-disclosure of possible violations of Export Administration Regulations (EAR) and disclosures about possible EAR violations by others. The most significant change is that while self-disclosure continues to be considered a mitigating factor, the policy now clarifies that deliberate non-disclosure of significant violations will be considered an aggravating factor, increasing potential penalties.
Four US citizens and three Russian nationals have been charged with conspiracy to use US citizens as illegal agents of the Russian government, including a conspiracy to recruit US citizens from academic and research institutions to participate in a public diplomacy program.
Orlando-based Metalhouse LLC's President John Can Unsalan, 41, has been indicted and arrested for engaging in a $150 million scheme to violate U.S. sanctions against Russian oligarch Sergey Kurchenko and his two companies. Unsalan allegedly transferred over $150 million to Kurchenko and the associated companies between July 2018 and October 2021, receiving metal products used in steelmaking in return.
Microsoft has agreed to pay $3.3 million to settle potential civil liability relating to exporting services or software to comprehensively sanctioned jurisdictions and Specially Designated Nationals (SDNs) in violation of OFAC's Cuba, Iran, Syria, and Ukraine-/Russia-Related sanctions programs.
An Estonian national has been indicted on eighteen counts related to conspiracy and other charges, including the procurement of sensitive US-made electronics for the Russian government and military. He engaged in this conduct despite being listed on the US Department of Commerce-maintained "Entity List," which designates individuals and companies barred from exporting items from the United States without a license.
A federal court has ordered the forfeiture of approximately $826,000 in funds connected to an attempt to smuggle a dual-use export-controlled item to Russia. The high-precision jig grinder, manufactured in Connecticut, was intercepted in Riga, Latvia, before it could be shipped to Russia. The machine is subject to export restrictions due to its potential applications in nuclear proliferation and defense programs.
Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Uphold HQ Inc. for maintaining accounts in sanctioned countries over a five year period. …
The Treasury and Federal Reserve have jointly fined Wells Fargo Bank nearly $100 million for failing to prohibit sanctions violations conducted on its trade finance platform Eximbills over a period of seven years.
Assistant Secretary for Export Enforcement Matthew S. Axelrod reviewed his team's initiatives in the Research Community in a March 8th speech to the Academic Security and Counter Exploitation Program’s Seventh Annual Seminar.
The Securities and Exchange Commission announced charges against and a settlement with global mining and metals company, Rio Tinto plc, for violations of the Foreign Corrupt Practices Act (FCPA) arising out of a …
Swedish Telecoms giant and serial FCPA violator LM Ericsson signed a new deal with the Justice Department acknowleging further breaches of the deferred prosecution agreement it entered into for corruption in Djibouti, China, Vietnam, Indonesia and Kuwait.
Justice announced the arrest of the principals of a Kansas avionics distributor for the export of aviation technology from the United States to Russia and Russian end users.
