The Treasury Department issued the 2024 National Terrorist Financing Risk Assessment and the 2024 National Proliferation Financing Risk Assessment. The assessments are intended to assist both public and private sectors in understanding the current illicit finance environment and developing appropriate risk mitigation strategies.
News & Insights
In a newly issued Fact Sheet, Treasury highlighted recent efforts to fight corruption and enhance its AML efforts.
In a Financial Institution Letter, the FDIC explained recent revisions to the Federal Financial Institutions Examination Council's examination manual aimed at providing greater transparency on examination procedures and compliance with the Bank Secrecy Act.
The Federal Reserve Board and the Treasury Office of Foreign Assets Control fined a banking entity for apparent sanctions violations. The regulators charged that the bank provided software to a European bank engaged in transactions with sanctioned jurisdictions.
In a newly-released compliance note, the DOJ, Office of Foreign Assets ("OFAC") and the U.S. Department of Commerce Bureau of Industry and Security ("BIS") outlined red flags that U.S. entities should be on the lookout for, and which may signify efforts to evade Russia-related sanctions.