Tweet Vancouver company listed as a criminal organization Allegations of global money laundering from Vancouver through the financial system Today, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC“), designated Vancouver based PacNet and its connected companies, as a significant transnational criminal organization (“TCO“) for its role acting as an alleged money […]
Tweet A $200 million a year business and growing The EU – Turkey deal to close the borders of the EU to refugees and migrants has shifted the human smuggling routes back to Libya. The focus back to Libya means ISIS’ large source of terrorist financing from this activity is flowing again, which may also […]
Tweet Summary of the Updates The US House Committee on Homeland Security released a number of updates and received testimony on the status of terrorist financing, terrorism and money laundering in the last few weeks with some interesting developments relevant to banks in terms of changes in terrorist financing typologies that should be added to […]
Tweet Mafia funds must be frozen The U.S. Department of the Treasury today added several members of the Camorra mafia to its Specially Designated Nationals List (“SDNL“). As a result of the designation to the SDNL, all property (money, securities, and other property) of the designated Camorra in the U.S. or in the possession or […]