Category: News
Houthi Financial Network Faces More Sanctions
Since October 2023, the U.S. has been targeting the network of Sa’id al-Jamal, a Houthi financial facilitator, with various economic sanctions. Just recently, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) initiated a 7th round of financial sanctions against Sa’id al-Jamal and everyone who is supporting him....
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OFAC Sanctions Cyprus-Based Entities
The Office of Foreign Assets Control (OFAC) is a U.S. governmental agency that’s tasked with ensuring that no one in the states is supporting terrorists, restricted governments, or other entities that are determined to be national threats. To enforce restrictions and uphold national security, the OFAC issues sanctions. These sanctions...
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Global Sanctions: Are They Worth It?
Sanctions are a type of legal action taken by one country in order to punish another country, state, business, or group. These sanctions limit the freedom of the target and possibly put economic or political restrictions on them. For example, one country’s bad behavior might lead another country to put...
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OFAC Lifts Sanctions on Russia-Based Aircraft Company
The Office of Foreign Assets Control (OFAC) is the primary agency responsible for monitoring and controlling assets that are potentially landing in the hands of bad global actors. Most importantly, the OFAC seeks to ensure that terrorists, drug dealers, and human traffickers aren’t being funded through business deals, trades, and...
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Transactions Involving VTB Bank Europe Authorized in U.S. Again
Back in February of 2022, the U.S. Treasury took significant action in response to Russia’s continued aggression in Ukraine. To help deter Russia from continuing down the same path, the U.S. Office of Foreign Assets Control decided to initiate specific sanctions against some of the country’s largest financial institutions. The...
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OFAC Sanctions 4 for Aiding Terrorists in Bahrain
On March 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) initiated sanctions against specific individuals who have been accused of materially assisting, sponsoring, and providing material, financial, or technological support, or goods or services to, or in support of Al-Ashtar Brigades. These individuals are all...
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Swiss Bank Violates OFAC Sanctions Pays $3.7M
The Office of Foreign Assets Control settled its first case of 2024, and it’s a significant one. According to reports, EFG International AG, a private global banking group based out of Switzerland, has agreed to pay over $3.74 million for violations of multiple sanctions programs. The OFAC accused EFG of...
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OFAC Bans Sale of Turbine Lubricants to Russia
The Office of Foreign Assets Control is in charge of issuing economic sanctions against individuals, companies, groups, and countries that are accused of aiding terrorists, narcotics traffickers, or other enemies of the state. These sanctions usually block assets or restrict trade to accomplish various national security goals. A recent action...
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Cyber Attack on US Water Plants Leads to Sanctions
Cyber crime has been increasing rapidly across the globe, and it’s difficult for cyber security experts to keep up with the constant cat and mouse game. That said, it’s not surprising that US infrastructure gets attacked on a regular basis. Late last year, several cyberattacks on American water plants led...
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Nikhil Gupta Facing Extradition to US
Murder-for-hire schemes are very complicated and typically transpire across international borders. Due to these facts, it’s often very difficult to track down perpetrators who plot and carry out these violent schemes. The U.S. has persistently pursued one such culprit, Nikhil Gupta, an Indian national, after he allegedly conspired to kill...
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