The Bank of Moscow has agreed to pay $9,492,525 to settle allegations that it handled transfers for Bank Melli Iran ZAO, Moscow, Russia (BMI), violating US sanctions against BMI. The US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued an enforcement notice containing findings that the Bank of Moscow sent 69 funds transfers […]

HM Treasury + OFAC – HM Treasury publishes clarification of how the Office of Foreign Assets Control’s (“OFAC”) Iran sanctions regulations apply to foreign banks operating in the US (13 August) – On 13 August 2012, HM Treasury published a letter (dated 8 August 2012) that it had received from the US Department of the […]

JFSC director-general John Harris – JERSEY’S likely response to a request for help in an investigation involving alleged sanctions-busting by an Iranian bank said to have links to terrorism features in secret US documents released by Wikileaks. The controversial website run by Julian Assange this week released the secret communication from the US Embassy in […]