The $206 million Amador cruise terminal for Panama City was officially opened (though it has been in use for a while, we passed through it over a year ago). Previously there was a large cruise terminal at the other end of the Canal, in Colón on the Caribbean, but this one is on the Pacific coast.
26 MARCH 2024
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On 26 March, OFAC advised that it was sanctioning 6 entities, 1 individual and 2 tankers that are based or registered in Liberia, India, Vietnam, Lebanon, and Kuwait that have engaged in facilitating commodity shipments and financial transactions for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the Houthis, and Hizballah.
https://home.treasury.gov/news/press-releases/jy2209
https://ofac.treasury.gov/recent-actions/20240326
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On 26 March, OFAC advised that it had sanctioned 11 individuals and entities supporting the regime of Syrian President Bashar Al-Assad through the facilitation of illicit financial transfers and trafficking of illegal drugs, as well as the extraction and export of Syrian commodities. Syria has become the leading producer and exporter of Captagon, a highly addictive amphetamine-type stimulant trafficked illegally throughout the Middle East and Europe.
https://home.treasury.gov/news/press-releases/jy2210
https://ofac.treasury.gov/recent-actions/20240326
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On 26 March, FATF published this follow-up report which, as noted below, upgraded the rating for FATF Recommendation 24. The US now has 9 Recommendations rated Compliant, 23 Largely Compliant, 5 Partially Compliant and 3 Recommendations Non-Compliant. It will report back to the FATF on progress achieved in improving the implementation of its AML/CFT measures in its 5th round mutual evaluation.
https://www.fatf-gafi.org/content/dam/fatf-gafi/fur/USA-FUR-2024.pdf.coredownload.inline.pdf
FATF HAS UPGRADED THE US TO “LARGELY COMPLIANT” WITH FATF RECOMMENDATION 24 – WHICH RELATES TO BENEFICIAL OWNERSHIP TRANSPARENCY FOR LEGAL PERSONS
On 26 March, a news release from FinCEN announced that FATF had detailed the US progress in addressing deficiencies in its AML/CFT regime specific to Recommendation 24, including the ongoing implementation of the Corporate Transparency Act, the bipartisan law that requires many companies doing business in the US to report information to FinCEN about who ultimately owns or controls them.
https://home.treasury.gov/news/press-releases/jy2208
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