Crime Groups Now Have Hands on Every Part of Global Gold Supply Chain
Criminal syndicates have embedded themselves so deeply in the global gold supply chain that the regulatory frameworks designed to contain them are fundamentally inadequate, according to a new report by the Global Initiative Against Transnational Organized Crime (GI-TOC).
Morgan Stanley, European Banks Drawn Into Probe of Alleged Bolloré Bribery
Morgan Stanley and several European banks risk being drawn into a French criminal investigation over the 2022 sale of Vincent Bolloré’s African transport and logistics business, as an anti-corruption association seeks to compel them to hand over internal documents related to the €5.7-billion transaction.
FCA Sees Industry Weaknesses in Sanctions Due Diligence, Trade Compliance
Financial firms have improved their sanctions controls but persistent weaknesses in due diligence, screening, and asset-freezing controls continue to drive compliance violations, the U.K. Financial Conduct Authority (FCA) said in a multi-firm review published Thursday.
Russian Airlines Rely on a Shadow Supply Chain for Boeing and Airbus Parts
Russian airlines have largely defied Western sanctions aimed at grounding their fleets by building a shadow supply chain for Boeing and Airbus spare parts routed through India, Turkey, the United Arab Emirates, and Kazakhstan.
Chinese Firms Are Negotiating Secret Arms Sales to Iran: U.S. Officials
U.S. officials believe Chinese companies have been negotiating arms sales to Iran and plotting to route the weapons through third countries to disguise their origin.
Chinese Firms ‘Brazenly’ Sell Drone Components Banned by U.S. Sanctions
Small, little-known Chinese companies are openly marketing and shipping engines, batteries, fiber-optic cables, and other dual-use components to Iranian and Russian drone factories despite U.S. sanctions.
U.S. to Lift Eritrean Sanctions in Bid to Secure Red Sea Trade Route
The United States is preparing to lift sanctions on Eritrea, according to an internal U.S. government document seen by Reuters, a move analysts told the news agency was driven by the Horn of Africa nation’s strategic position on the Red Sea shipping route.
China Invokes Counter-Sanctions Law in Response to OFAC Measures
China has for the first time invoked a law targeting companies that comply with foreign sanctions Beijing rejects, escalating its pushback against U.S. blacklisting of several oil refineries over purchases of Iranian crude.
One Common Layover Stop for Wildlife Traffickers: Bangkok
Thailand’s main international airport has become a reluctant hub in a sprawling illegal trade funneling wild animals to India, where social media “petfluencers” and exotic cafes are fueling a boom in demand for rare creatures.
Trump Clears Way for Secondary Sanctions on Banks Dealing with Cuba
President Donald Trump on Friday signed an executive order authorizing penalties against foreign banks and other companies anywhere in the world that do business with the Cuban government.