OFAC Warns on Sham Transfers in Sanctions-Evasion Schemes
The U.S. Treasury Department’s Office of Foreign Assets Control on Tuesday issued new guidance warning that sham transactions used by sanctioned individuals and entities to disguise continuing control over assets do not extinguish a blocked interest in property under U.S. sanctions rules.
Re-Export Scheme Keeps Russian Aircraft Flying Despite Sanctions
Russia continues to receive large volumes of Western-made aviation parts through third-country intermediaries despite EU and U.S. sanctions.
Widespread Chinese Ad Fraud is a Boon for Meta’s Bottom Line
The social-media giant Meta has tolerated widespread advertising fraud tied to Chinese customers in order to protect billions of dollars in revenue, even after internal teams repeatedly flagged the activity as problematic, Reuters reported.
Colombia says ELN Laundered $225 Million through Front Companies
Colombia’s Prosecutor General’s Office accused the National Liberation Army (ELN) of running a two-decade money-laundering network that washed more than $225 million (COP 885 billion) in illicit proceeds through a web of shell and front companies across the country, according to a statement cited by Colombia Reports.
Ten Years On, Iran Nuke Deal Ends with a Whimper
Iran has announced the official end of the 2015 nuclear agreement, saying it is no longer bound by the Joint Comprehensive Plan of Action (JCPOA) and that all restrictions and related mechanisms under the accord are terminated, The Guardian reported.
Louvre Jewel Heist Probed for Money-Laundering Motive
French investigators are treating Sunday’s smash-and-grab at the Louvre as a potential money-laundering operation, after four masked thieves stormed the museum’s Galerie d’Apollon and escaped with eight pieces of royal jewelry.
U.S. and UK Blacklist Pig-Butchering Scammers, Seize $15 Billion in Bitcoin
U.S. and UK authorities seized roughly $15 billion in Bitcoin and multiple London properties allegedly linked to a sprawling online fraud scheme based in Cambodia.
In Turkey’s Grand Bazaar, Some See Signs of Large-Scale Sanctions Busting
One of the world’s oldest marketplaces is doubling as a modern hub for sanctions evasion and large-scale money laundering, according to experts who spoke to The New York Post.
Spain Seizes Property of Russian Helicopters CEO: Report
Spanish authorities have seized property linked to Nikolai Kolesov, the chief executive of state-owned Russian Helicopters, on suspicion of money laundering, according to an anti-corruption group founded by the late Alexei Navalny.
How a Secret Chinese Barter Arrangement Helps Iran Skirt U.S. Sanctions
China has quietly built a financial workaround allowing it to keep paying for Iranian oil despite sweeping U.S. sanctions, according to new reporting by The Wall Street Journal.