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  • Wells Fargo fined for sanctions breach _enforcement
  • Google Co-Founder, Other Billionaires Are Issued Subpoenas in Lawsuit Over JPMorgan’s Ties to Jeffrey Epstein; Sergey Brin, Thomas Pritzker, Mortimer Zuckerman and Michael Ovitz are asked for information in U.S. Virgin Islands’ civil suit against bank All Regions
  • Chinese businessman Guo Wengui seeks bail in $1 billion fraud case All Regions
  • IMF approves $15.6 billion Ukraine loan, part of $115 billion in global support All Regions
  • Russian preventive strike ‘petition’ possible after Ukrainian nuke plea -ITAR-TASS All Regions
  • Dominion’s Fox News defamation case headed to trial All Regions
  • Pussy Riot Member Accused of ‘Insulting Religious Sensibilities’, adds her to wanted list All Regions
  • Finland Clears Last Obstacle to NATO Entry All Regions

Category: Sanctions

Wells Fargo fined for sanctions breach

Posted on April 1, 2023April 1, 2023 By 5amResearch No Comments on Wells Fargo fined for sanctions breach

The American bank Wells Fargo has been fined $97.8m (£79m) by the Federal Reserve and the Treasury Department for breaching US sanctions laws. Inadequate oversight meant that it allowed a foreign institution to process $532m in illegal transactions involving Iran, Syria and Sudan. Wells Fargo said it stopped dealing with the client in 2015.

_enforcement, All Regions, banks, Corruption, Enforcement Actions, enforcement archive, Region Americas, Region US & Canada, Sanctions, Spotlight

UAE cancels licence for Russia’s sanctioned MTS Bank

Posted on April 1, 2023 By 5amResearch No Comments on UAE cancels licence for Russia’s sanctioned MTS Bank

The United Arab Emirates’ central bank on Friday said it will cancel the licence it granted last year to Russia’s MTS bank, which was placed under British and US sanctions in February.

Operations at the bank’s UAE branch, which is licensed in the emirate of Abu Dhabi, will be wound down within six months under UAE central bank supervision.

A statement from MTS Bank said it will fulfil all settlement obligations to existing customers and guarantee the safety of their funds for six months.

“This decision comes after considering the available options regarding the new status of the MTS Bank and taking into account the sanctions risks associated with the bank,” the UAE central bank’s statement said.

All Regions, banks, Corruption, government corruption, International Conflict, Region Americas, Region Asias, Region Middle East, Region US & Canada, Sanctions, z-Exclude

U.S. sanctions man for trying to arrange arms deal between Russia, North Korea

Posted on March 30, 2023March 30, 2023 By CorruptionLedger No Comments on U.S. sanctions man for trying to arrange arms deal between Russia, North Korea

The Biden administration has sanctioned a Slovakian man who U.S. officials said attempted to facilitate an arms deal that would have given Russia access to weapons and munitions from North Korea in exchange for aircraft, food and other material.

The Treasury Department announced new sanctions targeting Ashot Mkrtychev, the man accused of trying to arrange the secret deal. Officials said the episode is the latest sign that Russia is searching for ways to replenish its military capabilities as it continues to suffer losses amid heavy fighting in Ukraine.

“We know that between the end of 2022 and early 2023, that [Mkrtychev] worked with North Korean officials to attempt to obtain, as I said, over two dozen kinds of weapons and ammunitions for Russia” in exchange for aircraft, raw materials and commodities, National Security Council spokesman John Kirby told reporters on a call. He said any such arrangement would violate multiple U.N. Security Council resolutions.

The Treasury Department said Mkrtychev “confirmed Russia’s readiness to receive military equipment from the DPRK with senior Russian officials,” using North Korea’s official diplomatic name. The department said Mkrtychev worked with a Russian official to locate commercial aircraft that could be delivered to North Korea. Thursday’s sanctions mean all of Mkrtychev’s property and interests in the U.S. or in the possession of U.S. persons are blocked.

_enforcement, Aerospace, All Regions, Enforcement Actions, enforcement archive, environment, International Conflict, national-defense, Region Americas, Region Asias, Region Europe, Region Oceania, Region US & Canada, Sanctions, x.yahoo, z-ex-enforcement, z-Exclude

Export Controls and Human Rights Initiative Code of Conduct Released at the Summit for Democracy

Posted on March 30, 2023March 30, 2023 By CorruptionLedger No Comments on Export Controls and Human Rights Initiative Code of Conduct Released at the Summit for Democracy

Office of the Spokesperson
The United States continues to put human rights at the center of our foreign policy.  The Export Controls and Human Rights Initiative  – launched at the first Summit for Democracy as part of the Presidential Initiative for Democratic Renewal – is a multilateral effort intended to counter state and non-state actors’ misuse of goods and technology that violate human rights.  During the Year of Action following the first Summit, the United States led an effort to establish a voluntary, nonbinding written code of conduct outlining political commitments by Subscribing States to apply export control tools to prevent the proliferation of goods, software, and technologies that enable serious human rights abuses.  Written with the input of partner countries, the Code of Conduct complements existing multilateral commitments and will contribute to regional and international security and stability.
In addition to the United States, the governments that have endorsed the voluntary Code of Conduct are: Albania, Australia, Bulgaria, Canada, Croatia, Czechia, Denmark, Ecuador, Estonia, Finland, France, Germany, Japan, Kosovo, Latvia, The Netherlands, New Zealand, North Macedonia, Norway, Republic of Korea, Slovakia, Spain, and the United Kingdom.   The Code of Conduct is open for all Summit for Democracy participants to join.
The Code of Conduct calls for Subscribing States to:

Take human rights into account when reviewing potential exports of dual-use goods, software, or technologies that could be misused for the purposes of serious violations or abuses of human rights.
Consult with the private sector, academia, and civil society representatives on human rights concerns and effective implementation of export control measures.
Share information with each other on emerging threats and risks associated with the trade of goods, software, and technologies that pose human rights concerns.
Share best practices in developing and implementing export controls of dual-use goods and technologies that could be misused, reexported, or transferred in a manner that could result in serious violations or abuses of human rights.
Encourage their respective private sectors to conduct due diligence in line with national law and the UN Guiding Principles on Business and Human Rights or other complementing international instruments, while enabling non-subscribing states to do the same.
Aim to improve the capacity of States that have not subscribed to the Code of Conduct to do the same in accordance with national programs and procedures.

We will build on the initial endorsements of the ECHRI Code of Conduct by States at the Summit for Democracy and seek additional endorsements from other States.  We will convene a meeting later this year with Subscribing States to begin discussions on implementing the commitments in the Code of Conduct.  We will also continue discussions with relevant stakeholders including in the private sector, civil society, academia, and the technical community.
Find the text of the full code of conduct .

Sanctions, z-ex-enforcement, z-Exclude

Swiss court convicts four bankers over Putin cellist funds

Posted on March 30, 2023March 30, 2023 By CorruptionLedger No Comments on Swiss court convicts four bankers over Putin cellist funds

Four bankers from a Russian bank’s Swiss branch have been found guilty by a Zurich court over vast sums going into the accounts of a close confidant of President Vladimir Putin.

The accounts in the Swiss arm of Gazprombank were held by Sergei Roldugin, the artistic director of the St. Petersburg Music House, who is often dubbed Putin’s cellist.

Roldugin has been a friend of Putin for more than four decades and is godfather to one of the Russian leader’s daughters.

The four men were found guilty of “lack of due diligence in financial transactions”, the Zurich District Court said in its verdict released to media on Thursday, over the millions of Swiss francs flowing through Roldugin’s account.

Under Swiss law, the bankers — two Russians, one Swiss and a Russian-born British national — cannot be identified.

The bank branch’s chief executive was fined 540,000 Swiss francs ($590,200).

_enforcement, Aerospace, All Regions, banks, corporate corruption, Corruption, Enforcement Actions, enforcement archive, environment, government corruption, national-defense, Region Asias, Region Europe, Region Oceania, Sanctions, x.yahoo

Credit Suisse, UBS facing US Russia-sanctions probe, subpoenas also sent to employees major US banks

Posted on March 24, 2023 By 5amResearch No Comments on Credit Suisse, UBS facing US Russia-sanctions probe, subpoenas also sent to employees major US banks

Credit Suisse Group AG and UBS Group AG are among the banks under scrutiny in a US Justice Department probe into whether financial professionals helped Russian oligarchs evade sanctions, according to people familiar with the matter.

The Swiss banks were included in a recent wave of subpoenas sent out by the US government, the people said. The information requests were sent before the crisis that engulfed Credit Suisse and resulted in UBS’s proposed takeover of its rival.

Subpoenas also went to employees of some major US banks, two people with knowledge of the inquiries, said.

The Justice Department inquiries are focused on identifying which bank employees dealt with sanctioned clients and how those clients were vetted over the past several years.

_enforcement, All News, All Regions, banks, Compliance, corporate corruption, Corruption, Economy, Enforcement Actions, enforcement archive, Finance, International Conflict, Investigations, Region Africas, Region Americas, Region Asias, Region Europe, Region Middle East, Region Oceania, Region US & Canada, regulatory compliance, Regulatory News, Sanctions, Spotlight

US court orders German stock operator Deutsche Börse subsidiary Bank Markazi to turn over Iranian assets

Posted on March 23, 2023March 23, 2023 By 5amResearch No Comments on US court orders German stock operator Deutsche Börse subsidiary Bank Markazi to turn over Iranian assets
US court orders German stock operator Deutsche Börse subsidiary Bank Markazi to turn over Iranian assets

Frankfurt (dpa) – A US court has ordered German stock operator Deutsche Börse’s Clearstream subsidiary to turn over about $1.7 billion in assets held by Iran’s central bank, Bank Markazi.

The court decision comes as part of a long-running US legal case in which victims of a terrorist attack 40 years ago have sought compensation from Iran. Clearstream said it is considering an appeal of the decision.

The assets are held in a customer account in Luxembourg by Clearstream, a wholly owned subsidiary of the German stock exchange operator. The company announced on Wednesday evening in Frankfurt that those suing Iran were granted a right to the assets attributed to the Iranian central bank held in a customer account at Clearstream.

Iranian-held assets at Clearstream, which manages securities on behalf of customers and handles purchases and sales, have been frozen on suspicion of terrorist financing and locked in several legal disputes for a number of years.

According to Deutsche Börse, that case remains pending but Clearstream maintains it is without merit.

_enforcement, All News, All Regions, corporate corruption, Corruption, Economy, Enforcement Actions, enforcement archive, Finance, government corruption, International Conflict, reg-enforcement, Region Europe, Region Middle East, Region US & Canada, Sanctions

US / Charges & Sentence: Iran military technology exports

Posted on March 22, 2023March 23, 2023 By CorruptionLedger No Comments on US / Charges & Sentence: Iran military technology exports
US / Charges & Sentence: Iran military technology exports

A federal court in the District of Columbia unsealed two indictments yesterday charging multiple defendants with violations of the Arms Export Control Act (AECA) and the International Emergency Economic Powers Act (IEEPA) for their roles in separate schemes to procure and export U.S. technology to Iran between 2005 and 2013. In connection with this announcement, the Department of Treasury’s Office of Foreign Assets Control designated three of the defendants and four entities for their involvement in the procurement of equipment that supports Iran’s ballistic missile and unmanned aerial vehicle (UAV) and weapons programs.

_enforcement, All Regions, International Conflict, Region Americas, Region Asias, Region Middle East, Region US & Canada, Sanctions, x.doj, z-Exclude

US / Sanctions: Iran drone procurement network

Posted on March 21, 2023March 23, 2023 By CorruptionLedger No Comments on US / Sanctions: Iran drone procurement network

The United States said Tuesday it is imposing a new round of sanctions on Iranian firms and people accused of procuring equipment used for Iranian drones.

Treasury’s Office of Foreign Assets Control coordinated with the FBI to designate four firms and three people in Iran and Turkey for allegedly buying equipment, including European-made engines, to be used for Iran’s drone and weapons programs.

Those targeted for sanctions include the Iran-based Defense Technology and Science Research Center, its procurement firm Farazan Industrial Engineering Inc. and two other firms along with purchasing agents from the companies.

_enforcement, Sanctions, x.yahoo

Western sanctions shielding Russian financial system from global crisis – Kremlin

Posted on March 14, 2023March 23, 2023 By CorruptionLedger No Comments on Western sanctions shielding Russian financial system from global crisis – Kremlin

Russia has its own financial messaging system, SPFS, which can act as a substitute for SWIFT in the domestic market. While its coverage is still much smaller than that of SWIFT – which boasts 11,000 financial organizations globally – the spread of SPFS has been gaining speed in recent months.

When asked about a spillover effect from the collapse of US lenders, which has led to a global stock rout, Peskov said problems in the American banking system cannot affect Russia in any way. “Our banking system, of course, has, let’s say, certain connections with some segments of the international financial system, but for the most part it is under illegal restrictions,” he said.

However, Peskov added that sanctions have been “a blessing in disguise” because Russia is “to a certain extent immune to the negative impact of the crisis that is now unfolding across the ocean.” 

All Regions, banks, Economy, International Conflict, Region Asias, Region Europe, Region US & Canada, Sanctions, Spotlight, war, x.RT, z-Exclude

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1 2 … 6 Next

  • Wells Fargo fined for sanctions breach
  • Google Co-Founder, Other Billionaires Are Issued Subpoenas in Lawsuit Over JPMorgan’s Ties to Jeffrey Epstein; Sergey Brin, Thomas Pritzker, Mortimer Zuckerman and Michael Ovitz are asked for information in U.S. Virgin Islands’ civil suit against bank
  • Chinese businessman Guo Wengui seeks bail in $1 billion fraud case
  • IMF approves $15.6 billion Ukraine loan, part of $115 billion in global support
  • Dominion’s Fox News defamation case headed to trial
  • Pussy Riot Member Accused of ‘Insulting Religious Sensibilities’, adds her to wanted list
  • Russian preventive strike ‘petition’ possible after Ukrainian nuke plea -ITAR-TASS
  • Finland Clears Last Obstacle to NATO Entry
  • Macron announces water saving plan; says protests will not stop reforms
  • Kremlin comments on WSJ correspondent arrest
  • Minnesota derailment spills ethanol, prompts evacuations
  • Deutsche Bank Stock Tumbles On Contagion Fears
  • Wall St falls as bank contagion fears flare up
  • US due diligence firm Mintz Group says staff detained in China after office raid
  • Credit Suisse, UBS facing US Russia-sanctions probe, subpoenas also sent to employees major US banks
  • (US) Appeals court sides with Justice Department in Trump lawyer fight
  • Russia boosts defenses near Japan; accuses U.S. of expanding Asia-Pacific presence
  • US credit card debt at record high as Fed raises rates again
  • Russian tech giants appeal Nasdaq delisting
  • China Denounces Submarine Deal
  • China insists it is impartial on Russia-Ukraine, questions US ‘pouring weapons into the conflict’
  • German ambassador confirms that Putin would be arrested if he entered Germany
  • Danish Navy present near Nord Stream 2 – media
  • Railroad reluctant to say who OK’d chemical burn after Ohio derailment
  • Scientists insist on continuing search for toxics in East Palestine
  • Top aide of Canadian PM Trudeau will testify in parliament on Chinese election meddling
  • Zuckerberg, Meta sued for failing to address sex trafficking, child exploitation
  • Norfolk Southern: Independent group finds toxic chemicals that Ohio EPA didn’t – Ohio train derailment (East Palestine)
  • JP Morgan, Deutsche Bank to face lawsuit over Epstein ties
  • Putin announces readiness to switch to the Chinese Yuan currency in foreign trade
  • Putin and Xi sign two documents in Moscow
  • Russia says jet scrambled as US B-52 bombers fly over Baltic Sea
  • Paris police, protesters clash for third night over Macron’s pension reform
  • Global / ChipMixer software ‘taken down’ by multi-national law enforcement coalition
  • Russian officials scoff at ICC’s indictment of Putin
  • SVB parent company files for bankruptcy
  • Violent protests in France over Macron’s retirement age push
  • International court issues war crimes warrant for Putin
  • US / Chinese tycoon and Bannon ally Guo Wengui charged with $1bn fraud
  • Samsung to invest $230 billion to build mega chip cluster
  • Pentagon calls Moscow over drone incident
  • Credit Suisse slump renews fears of global banking crisis
  • Silicon Valley Bank execs, parent company sued after collapse
  • Credit Suisse Shares Plunge as Bank Storm Spreads to Europe
  • Dow tumbles nearly 500 points as Credit Suisse stokes fears of bank failure contagion
  • Russian jet, US drone crash over Black Sea, US military says
  • Dark hours for Credit Suisse Bank
  • Account full of holes at Credit Suisse
  • Russia blasts Canada over ‘regime change’
  • US / Sterling Bancorp, Inc. to Plead Guilty to $69M Securities Fraud
  • US drones have no business near Russia – ambassador
  • Inflation in Argentina surges past 100 percent in historic spike
  • Paris visitors alarmed at trash strike
  • China says AUKUS on ‘dangerous path’ with nuclear subs deal
  • Taiwan unveils portable attack drone as China tensions rise
  • Putin rejects theory about Ukrainian role in pipeline blasts
  • Syrian president Assad arrives in Moscow, set to meet Putin
  • Marin’s F-18 proposal fizzles, as a new Finnish NATO tack emerges
  • Ohio sues Norfolk Southern over toxic train derailment
  • US / ‘Forever chemicals’ in drinking water
  • Nord Stream blasts staged by a state-level actor – Putin
  • No Harvey Weinstein retrial on rape, sex assault charges
  • US / Silicon Valley Bank execs, parent company sued after collapse
  • As U.S. steps back from Middle East, China steps in
  • Western sanctions shielding Russian financial system from global crisis – Kremlin
  • Moody’s puts US banks on notice
  • Robert Kiyosaki predicts next big bank to fold
  • UK $6 billion defense boost targets atomic submarines, weapons top-up
  • BBC gets £20 million boost from UK govt
  • Document reveals why Canada arms Saudi Arabia – media
  • Taiwan braces for ‘total blockade’ – media
  • Biden administration lets Ukrainians who fled war stay in US
  • Ratings Deceit: S&P sued for deceitful CDO ratings
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