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Following on the June 18 Indictments of Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a Mexico-based money launderer and China-based members of a money laundering organization with criminal links to the Sinaloa Cartel Monday..
The United States is working with Chinese authorities to target illicit financing networks, including those linked to the fentanyl trade. Chinese Money Laundering Organizations are now one of the key actors laundering money professionally in the United States and worldwide, and are rapidly becoming one of the most prominent money laundering threat actors facing the U.S. financial system.
The volume of world merchandise trade turned up in the first quarter of 2024 after remaining flat throughout 2023, according to the latest trade statistics released by the WTO.
Merchandise trade …
The FCC proposes to prohibit recognition and participation in its equipment authorization program for any certification body or test lab directly or indirectly owned or controlled by an entity on the Covered List.
The Covered List comprises entities identified as posing a national security risk. The FCC also plans to prevent reliance on any TCB or test lab with ownership ties to entities on this list.
The Treasury Department's Office of Investment Security formally published the Notice of Proposed Rulemaking for the Outbound Investment Rule announced June 21st. Written comments must be received by August 4, 2024.
Treasury's Office of Foreign Assets Control (OFAC) issued its OFAC Guidance: Production Submission Standards, updating OFAC’s former data delivery standards.
This guidance provides technical and general guidance to persons submitting material to OFAC and applies primarily to persons providing responses to administrative subpoenas, requests for information, disclosures, and especially for submissions that may entail voluminous documentation (e.g., more than 100 pages).
Two people were arrested Tuesday morning for shipping controlled avionics from New Jersey to the United Arab Emirates without having obtained the required license and authorization. The defendants obtained an ADIRU, a component that supplies air data and inertial reference information to pilots’ electronic flight instrument system displays and attempted to ship it to another company in the UAE.
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