On 11 May, OFAC issued revised FAQ concerning prohibitions related to certain accounting, trust and corporate formation, and management consulting services; what is meant by the terms “credit rating services” and “auditing services; and what is meant by the terms “accounting,” “trust and corporate formation services,” and “management consulting” sectors of the Russian Federation economy.
A news release from the Electronic Transactions Association (ETA) and other bodies on 11 May advised of the release of a set of best practices for AML/CFT compliance programmes. It is said that the Best Practices reflect the MSB industry’s commitment to ensuring a safe and compliant environment for providing non-bank financial services amid rapidly evolving threats to the US financial system.
On 11 May, the European Commission has published a consolidated list of travel bans. The tool shows who is subject to a travel ban under sanctions measures, and therefore are prevented from travelling to the EU.