Search for: "OFFICE OF FOREIGN ASSETS CONTROL"
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15 Aug 2022, 10:24 am
Last week, the US Department of Treasury hit back hard:“The Treasury Department has banned all Americans from using decentralized crypto-mixing service Tornado Cash.The Office of Foreign Assets Control (OFAC), a watchdog agency tasked with preventing sanctions violations, on Monday added Tornado Cash to its Specially Designated Nationals list, a running tally of blacklisted people, entities and cryptocurrency addresses. [read post]
12 Aug 2022, 3:44 pm
One reason: growing influence of Copyright Office lawyers on SG briefs. [read post]
12 Aug 2022, 10:58 am
And finally, the Amendment would require covered entities to provide within 30 days a written description of the reasons payment was necessary, a description of alternatives to payment considered, all diligence performed to find alternatives to payment, and all diligence performed to ensure compliance with applicable rules and regulations including those of the Office of Foreign Assets Control. [read post]
12 Aug 2022, 6:34 am
Its belief in the asset class didn’t stop there. [read post]
11 Aug 2022, 9:12 pm
Department of the Treasury’s Office of Foreign Assets Control sanctioned Tornado Cash, a virtual currency mixer that uses the Ethereum blockchain, concluding that it has been used in the laundering of over $7 billion in virtual currency since 2019. [read post]
11 Aug 2022, 8:09 am
(§500.9) Asset inventories and Access Controls Asset Inventory: Covered entities would be required to implement policies and procedures to ensure a complete, accurate and documented asset inventory including all information systems and their components, such as hardware, operating systems, applications, infrastructure devices, APIs and cloud services.. [read post]
11 Aug 2022, 6:03 am
Additionally, China’s Taiwan Affairs Office issued its first policy paper on Taiwan in 22 years, reaffirming its prerogative to use military force to gain control over the island, if necessary, and repeating its longstanding offer for Taiwan to submit voluntarily to its control under a “One Country, Two Systems” framework similar to the arrangement for Hong Kong after it reverted to Chinese control. [read post]
9 Aug 2022, 11:31 am
" The platform was added to the Specially Designated Nationals and Blocked Persons List (SDN), prohibiting all transactions on Tornado Cash by people in the US "unless authorized by a general or specific license issued by OFAC [Office of Foreign Assets Control]", the Treasury Department announcement said. [read post]
7 Aug 2022, 9:01 pm
For banks, the Basel Principles outline climate-related risk management approaches to corporate governance and strategic planning; the internal control framework across the three lines of defense; internal capital adequacy and internal liquidity adequacy assessment processes; risk appetite framework and risk mitigation measures; risk data aggregation, collection and reporting; the impact of climate-related risk drivers on banks’ management of credit, market, liquidity, operational and… [read post]
3 Aug 2022, 11:42 am
Under the TNDA Act, foreign entities of concern include entities: designated as a foreign terrorist organization by the Secretary of State under section 219 of the Immigration and Nationality Act (8 U.S.C. 1189); included on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury; owned by, controlled by, or subject to the… [read post]
2 Aug 2022, 5:37 pm
The red line on Chart 1 shows the net asset position of the Cuban banking system. [read post]
1 Aug 2022, 5:01 am
And sanctioning countries have found new innovations, too: Measures targeting Russia’s central bank have restricted Russia’s ability to access its foreign reserves and control inflation in the country, exposing a hitherto unrealized vulnerability in the war chest that had been built up in recent years. [read post]
28 Jul 2022, 7:37 am
These new powers of the UK’s Office of Financial Sanctions Implementation’s (OFSI), which are viewed as being more in line with the enforcement powers available to the US Office of Foreign Assets Control, apply to all cases where the potential breach took place on or after 15 June 2022. [read post]
27 Jul 2022, 3:56 am
Britain’s Foreign Office on Tuesday froze the assets of Graham Phillips, a pro-Kremlin blogger that moved to Ukraine more than a decade ago. [read post]
21 Jul 2022, 10:39 am
Clearly: if eventually passed, this amendment will change the landscape of professional service providers, including tax return preparers with foreign clients, and payment processors. [read post]
19 Jul 2022, 11:31 am
I therefore determine that hostage-taking and the wrongful detention of United States nationals abroad constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States. [read post]
12 Jul 2022, 1:16 pm
These two foreign systems include the international community, on the one hand, and the core of leadership of the liberal democratic united front alliance on the other. [read post]
11 Jul 2022, 6:01 am
Department of the Treasury’s Office of Foreign Assets Control. [read post]
6 Jul 2022, 4:30 am
He said some of the funds could come from assets seized from Russian oligarchs. [read post]
6 Jul 2022, 1:00 am
Generally, foreign parties lending to Swiss companies do not require a banking licence. [read post]
