News & Insights

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October 13, 2020

The Secretary of the Treasury tightened sanctions against Iran by designating financial institutions and persons determined to "operate" in the Iranian financial sector.

December 04, 2018

Under Secretary of the U.S. Treasury for Terrorism and Financial Intelligence Sigal Mandelker highlighted the Department's efforts to ensure that the Anti-Money Laundering/Combating the Financing of Terrorism ("AML/CFT") framework is aligned to match the constantly-evolving nature of financial crime. In remarks at the ABA/ABA Financial Crimes Enforcement Conference, Ms. Mandelker focused on three broad Treasury efforts: (i) working with key stakeholders to bolster its AML/CFT regime (including by fostering private sector innovation), (ii) alleviating vulnerabilities associated with advancing

November 06, 2018

The Federal Financial Institutions Examination Council ("FFIEC") alerted financial institutions to the potential impact that cyber-related sanctions may have on information technology, operations and compliance. The FFIEC statement reminds financial institutions that U.S. Treasury Department Office of Financial Asset Control ("OFAC") sanctions generally prohibit U.S. persons from conducting transactions with sanctioned entities. The Cyber-Related Sanctions Program was implemented on April 1, 2015 following Executive Order 13694. Under the program, OFAC targets entities engaging in, directly or