A US federal grand jury has indicted a Russian national who allegedly used the American banking system to illegally transmit more than US$150 million, of which US$65 million was used to illicitly purchase overseas gold bullion. Feliks Medvedev has been… Read More ›
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) and the commerce department’s Bureau of Industry and Security (BIS) have issued a supplemental joint alert urging US financial institutions to remain vigilant for potential attempts by Russia to evade US… Read More ›
Tightening restrictions on trade in Russian-origin diamonds, gold and other metals is expected to feature prominently in discussions amongst leaders of the Group of Seven (G7) nations when they contemplate further sanctions on Moscow at a summit this week. Other… Read More ›
In one of its most significant sanctions actions to date, the US treasury’s Office of Foreign Assets Control (OFAC) has designated over a dozen more Russian banks and financial institutions and announced a new determination targeting Russia’s metals and mining… Read More ›
Russian customs data shows that countries most actively facilitating circumvention of wartime sanctions by Russia include China, Turkey, Cyprus and the UAE, according to analysis by the Free Russia Foundation (FRF). Western allies are responding by calling on jurisdictions to… Read More ›
The members of the Financial Action Task Force (FATF) have agreed to suspend Russia’s membership of the global financial crime watchdog. They say Russia’s continuing and intensifying war of aggression against Ukraine runs counter to the FATF’s principles of promoting… Read More ›
Ukraine has once more appealed to Financial Action Task Force (FATF) member states to expel Russia from the global financial crime watchdog and include it on its list of high-risk jurisdictions, often referred to as the black list. The appeal… Read More ›
US banks were caused to process tens of millions of dollars in schemes to evade sanctions and export controls applicable to Russia according to an indictment charging five Russian nationals and two oil traders with global sanctions evasion and money… Read More ›