U.S. investigators are said to seek more than $10 billion in fines, a guilty plea and the suspension of dollar-clearing operations to settle the probe into France’s biggest bank’s dealing in countries including Iran and Sudan. As the world’s reserve currency, dollars are used internationally in trades of goods ranging from oil to airliners. France’s […]
Read MoreHBME JFSC investigation remains outstanding.
In the States of Jersey official report dated Tuesday, 5th November 2013 (5.18) it is reported that Deputy G.P. Southern asked Does the Chief Minister have any information on when the J.F.S.C. (Jersey Financial Services Commission) may product its report on the activities of HSBC Middle East, as promised earlier in the year? Senator I.J. […]
Read MoreBNP Paribas faces fine of more than $10bn in US sanctions investigation.
US justice department pushing France’s biggest bank to plead guilty to charges it violated US sanctions against Iran – $10bn would be more than five times the biggest fine paid by a bank to settle allegations of violating US sanctions. BNP Paribas, France’s biggest bank, is reported to be facing a fine of more than […]
Read MoreHSBC London branch and Iranian state corporation and sanctions
It has been reported May 19th 2014 that HSBC officials recently discovered that the branch’s landlord is an Iranian state corporation, subject to US sanctions. The branch last year paid £192,402 in rent to the state-controlled National Iranian Oil Company, which owns the building, and another £30,000 in the first quarter of 2014. While HSBC […]
Read MoreUkraine sanctions update- Recent US developments.
On 11 April 2014, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced that it had listed as SDNs seven Crimean-based individuals and also one entity, Chernomorneftegaz, for contributing to the situation in Ukraine. The names of the SDNs are listed here. More recently, President Obama indicated at a press conference on […]
Read MoreVietnam to execute corrupt bankers – When a firing squad gives you lemons, you can’t make lemonade!!!
The recent decision by Vietnam to execute corrupt bankers has garnered world-wide attention. Rather surprisingly, however, the case has an interesting intersection with export law issues. As has been reported, the bankers will be subject to rather gruesome execution by firing squad. Vietnam’s traditional means of execution involves binding perpetrators to a wooden post, stuffing […]
Read MoreSanctions and high risk jurisdictions
Selected sanctions list UK – HM Treasury’s consolidated list = http://bit.ly/1jFLBSj EU sanctions list = http://eeas.europa.eu/cfsp/sanctions/consol-list_en.htm EU regimes sanctions list (PDF) = http://bit.ly/1hlqANU UN sanctions lists = http://www.un.org/sc/committees/list_compend.shtml US sanctions lists = http://1.usa.gov/R6fZwO High risk jurisdictions lists FATF high risk and non-cooperative jurisdictions list = http://bit.ly/1iye4Hg Transparency International corruption perceptions index = http://bit.ly/1iye4Hg Transparency International corruption by territory page […]
Read MoreFollowing FATF’s issuance of updated public statements of higher risk jurisdictions in February, HM Treasury has published an updated Advisory Notice which can now be found here:
https://www.gov.uk/government/publications/money-laundering-and-terrorist-financing-controls-in-overseas-jurisdictions-advisory-notice These publications can all be found on the FATF website at: http://www.fatf-gafi.org/ Further please find attached the link to the current list of designated persons. https://www.gov.uk/government/publications/current-list-of-designated-persons-terrorism-and-terrorist-financing
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