On 25 April, OFAC announced the granting of General Licences 13R (authorising the wind down of certain transactions necessary to divest or transfer debt, equity, or other holdings in GAZ Group) and 15L (authorising the wind down of transactions involving GAZ Group).  It also updated a number of relevant FAQ.

https://home.treasury.gov/system/files/126/ukraine_gl13r.pdf

https://home.treasury.gov/system/files/126/ukraine_gl15l.pdf

https://home.treasury.gov/policy-issues/financial-sanctions/faqs/updated/2022-04-25

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https://www.statista.com/chart/27289/global-trade-volume-with-counterfeit-goods-compared-to-gdp-of-selected-countries-regions

On 25 April, Field Fisher published its latest summary of developments, plus a 5-step checklist for assessing how your activities may be affected.

https://www.fieldfisher.com/en/services/international-trade/trade-sanctions-blog/new-uk-eu-and-us-sanctions-on-russia

On 25 April, OFAC announced that it had reached an agreement with Toll Holdings Limited, an international freight forwarding and logistics company headquartered in Melbourne, Australia.   The apparent violations of various sanctions regimes involved are said to have occurred when Toll originated or received payments through the US financial system involving sanctioned jurisdictions and persons.  Toll agreed to remit $6,131,855 to settle its potential civil liability for 2,958 apparent violations.

https://home.treasury.gov/system/files/126/20220425_toll.pdf

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The Jersey FSC has published 2 recent news releases –

On 14 April, it announced updated guidance on the countering of the financing of proliferation of weapons of mass destruction;

On 25 April, it announced an updated Consolidated AML/CFT Handbook to capture changes in legislation for imposing civil financial penalties; andIt also published a which table displays differences and similarities between terrorist financing, money laundering, and financing the proliferation of weapons of mass destruction; and

It also published a table which displays differences and similarities between terrorist financing, money laundering, and financing the proliferation of weapons of mass destruction

https://www.jerseyfsc.org/news-and-events/updated-guidance-on-the-countering-of-the-financing-of-proliferation-of-weapons-of-mass-destruction/

https://www.jerseyfsc.org/industry/financial-crime/proliferation-and-proliferation-financing-of-weapons-of-mass-destruction/

https://www.jerseyfsc.org/news-and-events/updated-consolidated-amlcft-handbook-to-capture-change-in-legislation-for-imposing-civil-financial-penalties/

https://www.jerseyfsc.org/industry/guidance-and-policy/comparison-terrorist-financing-money-laundering-and-financing-the-proliferation-of-weapons-of-mass-destruction/

 

 

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

On 25 April, the Basel Institute on Governance announced that the Spanish version of Illicit Enrichment (Enriquecimiento ilícito) is now available.  The book explores the rapid growth of illicit enrichment (unexplained wealth) legislation around the world and its use to target corruption and recover illicitly obtained assets.

https://baselgovernance.org/publications/illicit-enrichment-guide-laws-targeting-unexplained-wealth

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y