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Friling Law

Legal Guidance for Financial Integrity and Whistleblower Protection

Friling Law on

Over the past few years, whistleblowers have become a driving force in uncovering financial misconduct in the U.S. Individuals may report illicit financial activity, including money laundering, sanctions evasion, fraud, and...more

K2 Integrity

AI-Driven Risk Assessment: Enhancing Financial Crime Compliance And Internal Audit

K2 Integrity on

In an era of increasingly sophisticated financial crimes and evolving regulatory, compliance, and internal audit needs, financial institutions must continuously refine their risk assessment strategies. Traditional methods,...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions Syrian financial facilitators allied with IRGC-QF

On May 30, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Order 13582 and the Caesar Syrian Civilian Protection Act of 2019 (Caesar Act), against two Syrian...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions additional persons in Bosnia and Herzegovina

On March 15, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against three individuals in Bosnia and Herzegovina (BiH), pursuant to Executive Orders 14033 or 14059. ...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions Iranian officials for serious human rights abuses

On March 8, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Orders 13553 and 13846, against several Iranian regime officials and entities for serious human...more

Orrick, Herrington & Sutcliffe LLP

Agencies flag intermediaries in evading Russia-related sanctions

On March 2, the DOJ, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), and the Department of Commerce’s Bureau of Industry and Security (BIS) issued a joint compliance note on the use of third-party...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions timeshare fraud network

On March 2, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Order 14059, against eight Mexican companies connected to timeshare fraud on behalf of the Cartel...more

Orrick, Herrington & Sutcliffe LLP

OFAC issues supplemental guidance on humanitarian sanctions exceptions

On February 27, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued supplemental guidance for the provision of humanitarian assistance. ...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions persons supporting North Korea

On March 1, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against three entities and two individuals for their roles in illicitly generating revenue to support the government of...more

Orrick, Herrington & Sutcliffe LLP

OFAC issues more Russian sanctions and metals and mining determination

On February 24, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced significant measures targeting the metals and mining sector of the Russian Federation economy under Executive Order 14024....more

Orrick, Herrington & Sutcliffe LLP

OFAC issues sanctions compliance guidance for transactions related to Syrian earthquake disaster relief

On February 21, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued sanctions compliance guidance for authorized transactions related to Syrian earthquake disaster relief. The OFAC Compliance...more

Orrick, Herrington & Sutcliffe LLP

Treasury official warns that the cost of doing business with Russia is steep

On February 21, Deputy Secretary of the Treasury Wally Adeyemo discussed sanctions efforts and export controls taken by a coalition of more than 30 nations over the past year to immobilize the majority of Russia’s sovereign...more

Orrick, Herrington & Sutcliffe LLP

Treasury roundtable examines effectiveness of Russian sanctions and export controls

On February 10, Deputy Secretary of the Treasury Wally Adeyemo convened a roundtable to hear from sanctions and U.S. foreign policy experts on the effectiveness of the unprecedented sanctions and export controls imposed on...more

Orrick, Herrington & Sutcliffe LLP

Treasury official warns Turkish companies on engaging with Russian entities

On February 3, Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson, met with the Banks Association of Turkey to discuss international sanctions actions against Russia for its war against...more

Orrick, Herrington & Sutcliffe LLP

OFAC announces sanctions tied to Central America drug trafficking

On February 8, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Order 13581, against an individual based in Honduras and another individual based in Nicaragua...more

Orrick, Herrington & Sutcliffe LLP

OFAC offers more guidance on price caps for Russian petroleum

On February 3, the U.S. Treasury Department’s Office of Foreign Assets Control published additional guidance on the implementation of the price cap policy for crude oil and petroleum products of Russian Federation origin. ...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions senior executives of Iranian UAV manufacturer

On February 3, the U.S. Treasury Department’s Office of Foreign Assets Control announced sanctions pursuant to Executive Order 13382 against eight senior executives of an Iran-based firm that was previously sanctioned by the...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions persons connected to Burma’s military regime

On January 31, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14014 against six individuals and three entities connected to Burma’s military regime. ...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions evasion network supporting Russia’s military-industrial complex

On February 1, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced it is imposing “full blocking sanctions against 22 individuals and entities across multiple countries related to a sanctions...more

Orrick, Herrington & Sutcliffe LLP

OFAC issues sanctions to counter narcotics trafficking

On January 30, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14059 against the leader of a Mexico-based network and two associates for procuring...more

Orrick, Herrington & Sutcliffe LLP

OFAC announces sanctions against Paraguayan officials

On January 26, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against the former president of Paraguay and the current vice president for their involvement in corrupt actions that...more

Orrick, Herrington & Sutcliffe LLP

FinCEN alert covers potential CRE investments by sanctioned Russians

On January 25, the Financial Crimes Enforcement Network (FinCEN) issued an alert to financial institutions on potential investments in the U.S. commercial real estate sector by sanctioned Russian elites, oligarchs, their...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions Russians individuals and entities

On January 26, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against six individuals and 12 entities connected to the Russian Federation. ...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions key Hizballah money exchanger

On January 24, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 13224 against several individuals and associated entities, including a Lebanese money...more

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