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Economic Sanctions Ukraine Anti-Money Laundering

Lowenstein Sandler LLP

OFAC Imposes Largest-Ever Penalty on Nonbank Financial Institution for Egregious and Sustained Sanctions Violations—a $216M...

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a historic $215,988,868 civil monetary penalty against GVA Capital Ltd. (GVA), a venture-capital firm registered in the Cayman Islands...more

Secretariat

Guardians of Finance Integrity, How the NY Fed’s Oversight in Iraq and Libya Could Hold a Blueprint for Post-Conflict...

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The Federal Reserve Bank of New York (FRBNY) has cemented its role as a global financial watchdog, using its influence to safeguard the integrity of the U.S. dollar and the broader international financial system. Recent...more

Secretariat

Rebuilding Ukraine — April 2025 Edition

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Welcome to Secretariat’s April 2025 edition of Rebuilding Ukraine, where we explore the evolving landscape of Ukraine’s reconstruction, the challenges ahead, and the opportunities emerging. Stay informed with our insights on...more

Conyers

Navigating International Sanctions: Impact of the Ukraine War on Bermuda

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When Russia invaded Ukraine on 22 February 2022 most Bermudian residents did not think it would have much impact to the island. However as both an overseas territory of the United Kingdom and as an international finance...more

Ballard Spahr LLP

The American Front in Russia’s War on Ukraine: DOJ’s “Task Force KleptoCapture” Continues Focus on Operations of Sanctioned...

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We previously have blogged on actions taken by the DOJ’s “Task Force KleptoCapture,” an interagency law enforcement task force with a mandate to target sanctioned Russian and pro-Russian oligarchs. While explicitly launched...more

Fenwick & West LLP

U.S. Government Intensifies Focus on Russian Sanctions Evasion

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The U.S. government is turning up the dial on its efforts to combat evasion of export controls and sanctions against Russia. The severe trade restrictions against Russia (and Belarus) have seen continuous escalation since...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Adopts 10th Set of Sanctions Against Russia and Strengthens Enforcement and Anti-Circumvention Measures

The European Union (EU)’s tenth package of sanctions against Russia, adopted 25 February 2023, imposed an asset freeze against 121 individuals and entities and expanded the scope of sectoral sanctions....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

K2 Integrity

Russia Sanctions: 2022 Review and 2023 Outlook

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On 18 January 2023, K2 Integrity hosted a webinar to review the multifaceted set of sanctions and trade controls imposed in response to Russian aggression in 2022 and to discuss what is expected in 2023...more

BCLP

Banking Bites - November 2022

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Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

BCLP

Liquidating Frozen Assets: When Foreign Policy Meets Sanctions Enforcement

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In their June 2022 report “The cost of complacency: illicit finance and the war in Ukraine”, the House of Commons Foreign Affairs Committee (the “FAC”) condemned the UK Government’s historic lack of commitment to tackling...more

Proskauer Rose LLP

Q&A: The Bottom Line of Russian Sanctions’ Impact on AML for Private Funds

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Earlier this spring, following the Russian invasion of Ukraine, the Biden administration issued a series of executive orders imposing strong sanctions against Russia. Over the last few months, those sanctions have continued...more

K2 Integrity

Sanctions Against Russia: The Week in Review - June 2022 - 3

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The Week in Review delivers information and analysis on recent developments related to sanctions against Russia and key implications for the public, private, and non-profit sectors as the United States (U.S.), the European...more

Thomas Fox - Compliance Evangelist

Why Economic and Trade Sanctions Will Never Be the Same After the Russian Invasion

After the Russian invasion of Ukraine, the world of business will never be the same again. Deputy Attorney General (DAG) Lisa Monaco recently said that the world’s “geopolitical landscape is more challenging and complex than...more

Bracewell LLP

Sanctions and Cyber and Crypto, Oh My: The Convergence of Emerging Regulatory and Enforcement Risks Requires Nimble Responses...

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At a sanctions conference held in Washington D.C. on May 5, government officials, practitioners and corporations highlighted the government’s broadening focus on anti-corruption enforcement, across more traditionally siloed...more

BCLP

Banking Bites - May 2022

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Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market....more

K2 Integrity

Sanctions Against Russia: Understanding the Evolving Picture and How to Respond

K2 Integrity on

...Since the start of the invasion of Ukraine by Russian forces on February 24, the United States (U.S.), United Kingdom (UK), and the European Union (EU) have led a global sanctions campaign against Russia that has been...more

Orrick, Herrington & Sutcliffe LLP

Employers to the Rescue? Potential Compliance Risks When Helping Male Employees Leave Ukraine

Companies seeking to help their Ukrainian employees safely exit Ukraine should be aware of potential risks related to the Foreign Corrupt Practices Act (FCPA) and other U.S. laws and regulations. Following Russia’s invasion...more

Cadwalader, Wickersham & Taft LLP

The Biden Budget: Funding Sanctions and AML Initiatives

Increased defense spending and assistance to the Ukrainian government in Kyiv grabbed many of the headlines regarding President Biden’s fiscal year 2023 budget. However, funding requests for key functions within the...more

Cohen & Gresser LLP

The Economic Crime Act: What will Change for Managers of Offshore Structures

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In the early hours of 15 March 2022, the Economic Crime (Transparency and Enforcement) Act (the “Act”) came into force. The rapid passage of the Act through the UK Parliament, after years of delays, came in response to...more

Morgan Lewis

Update: Russia Further Tightens Currency Control Regulations and Directs Banks to Scrutinize Payments Made Abroad

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As another measure to support Russia’s financial market, Presidential Decree No. 126 imposes further limitations on cross-border monetary transfers for both Russian and non-Russian residents. However, Decree No. 126 also...more

Perkins Coie

Recent Developments in US Sanctions and Export Controls Targeting Russia

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Following Russia’s recognition of breakaway regions in Ukraine and full-scale invasion of the country, authorities in the United States, United Kingdom, European Union, and across the globe imposed a sweeping array of trade...more

Cadwalader, Wickersham & Taft LLP

Statement from UK Financial Regulatory Authorities on Sanctions and the Cryptoasset Sector

On March 11, 2022, the UK Financial Conduct Authority (“FCA”), the Office of Financial Sanctions Implementation (part of HM Treasury) and the Bank of England published a joint statement (the “Statement”) on sanctions and the...more

Stikeman Elliott LLP

G7 Financial Intelligence Units Cooperate on Sanctions on Russia

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In the latest sanctions-related developments, Canada’s FINTRAC has agreed to work with other financial intelligence units in relation to sanctions and related anti-money laundering, while Canada has also imposed an additional...more

Latham & Watkins LLP

The Economic Crime (Transparency and Enforcement) Act 2022 Receives Royal Assent

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New legislation introduces further sanctions powers and aims to tackle financial crime by revealing identities of overseas beneficial owners of UK property. Following the UK government’s successive sanctions packages,...more

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