TRADE FINANCE INSURER HIT WITH US SANCTIONS PENALTY

On 19th August, the Wall Street Journal carried a report on the penalty imposed on a trade finance company for allegedly buying and collecting debt of a blacklisted entity – Panama-based Grupo Wisa SA.  A US subsidiary of Dutch trade finance insurer Atradius NV agreed to pay more than $345,000 to settle allegations that it violated US sanctions.  The US says Grupo Wisa has had ties to Panama-based drug money laundering network, the Waked Money Laundering Organization, which was designated as a narcotics trafficker in 2016.

https://www.wsj.com/articles/trade-finance-insurer-hit-with-u-s-sanctions-penalty-11566235934

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