Day: September 8, 2022

On 8 September, OFAC issued General License 13B which allows US persons, or entities owned or controlled, directly or indirectly, by a US person, to pay certain taxes, fees, or import duties, and purchase or receive permits, licences, registrations, or certifications that would otherwise be prohibited involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation.

https://home.treasury.gov/system/files/126/russia_gl13b.pdf

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On 8 September, OFAC announced that it was designating an air transportation service provider for its involvement in the shipment of Iranian Unmanned Aerial Vehicles (UAV) to Russia for its war against Ukraine.  Additionally, OFAC is designating 3 companies and 1 individual involved in the research, development, production, and procurement of Iranian UAV and UAV components, including the Shahed series of drones, for Iran’s Islamic Revolutionary Guard Corps (IRGC) and its Aerospace Force (IRGC ASF) and Navy.

https://home.treasury.gov/news/press-releases/jy0940

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220908

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On 8 September, the Daily Maverick reported that the South African Revenue Service (Sars) investigators have found that Gold Leaf Tobacco Corporation (GLTC) operates an off-book enterprise manufacturing and selling illicit tobacco. It provides easy to understand infographics to explain the complex money laundering scheme.

https://www.dailymaverick.co.za/article/2022-09-08-gold-leaf-tobacco-money-laundering-in-infographics/

https://www.dailymaverick.co.za/article/2022-08-29-r3bn-fraudulent-intentional-tax-evasion-an-in-depth-account-of-how-sars-bust-tobacco-gold-plunder-network/

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On 8 September, the Times of Malta reported that a Malta-based bank owned by a Dutch billionaire has been fined by the FIAU for shortcomings in its efforts to detect potential money laundering.  Novum Bank, owned by Dutch entrepreneur Marcel Boekhoorn, was hit with an €89,000 fine and ordered to tighten up its checks on clients.

https://timesofmalta.com/articles/view/bank-owned-dutch-billionaire-fined-antimoney-laundering-breaches.978758

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