WASHINGTON – Today, the U.S. Department of the Treasury released a report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector. The report was written at the direction of Presidential Executive Order 14110 on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence. Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP) […]
Category Archives: U.S. Treasury
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Meeting with Foreign Minister Margus Tsahkna of Estonia
WASHINGTON – Yesterday Deputy Secretary of the Treasury Wally Adeyemo met with Estonian Foreign Minister Margus Tsahkna. In this conversation, Deputy Secretary Adeyemo reaffirmed the importance of our close coordination on strengthening the international response to Russia’s illegal and unprovoked war on Ukraine through combatting the evasion of sanctions and export control measures. Both confirmed […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Call with Coordinating Minister of Maritime and Investment Affairs Luhut Binsar Pandjaitan of Indonesia
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen held a call with Coordinating Minister of Maritime and Investment Affairs Luhut Binsar Pandjaitan. Secretary Yellen and Coordinating Minister Luhut discussed Indonesia’s climate efforts as well as ambitions on digitalization and industrialization. They also discussed the commitment of Indonesia and the United States in […]
Treasury Targets Qods Force, Houthi, and Hizballah Finance and Trade Facilitators
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning six entities, one individual and two tankers that are based or registered in Liberia, India, Vietnam, Lebanon, and Kuwait that have engaged in facilitating commodity shipments and financial transactions for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the Houthis, […]
Treasury Sanctions Financial Facilitators and Illicit Drug Traffickers Supporting the Syrian Regime
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 11 individuals and entities supporting the regime of Syrian President Bashar Al-Assad through the facilitation of illicit financial transfers and trafficking of illegal drugs, as well as the extraction and export of Syrian commodities. Syria has become the leading producer […]
Financial Action Task Force Highlights Treasury’s Efforts to Counter Illicit Finance
WASHINGTON — Today, the Financial Action Task Force (FATF)—the global standard-setting body for anti-money laundering, countering the financing of terrorism, and countering proliferation financing (AML/CFT/CPF)—announced that the United States has been upgraded to “largely compliant” with FATF Recommendation 24, which relates to beneficial ownership transparency for legal persons. The FATF published the updated rating in […]
Acting Comptroller Discusses Fairness and Compliance Risk Management
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed fairness and effective compliance risk management in remarks at CBA LIVE 2024, hosted by the Consumer Bankers Association. Mr. Hsu discussed how banks can improve their ability to anticipate and adapt to emerging compliance risk issues by elevating and developing a strong internal sense of […]
OCC Hosts Minority Depository Institutions Advisory Committee Meeting April 16
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, April 16, 2024. The meeting, which will be hosted in person and virtually, is open to the public and will begin at 8:30 a.m. Eastern Daylight Time (EDT). […]
U.S. Treasury Department Announces Appointment of Patty Collins as Director of the Bureau of Engraving and Printing
WASHINGTON – Today, the U.S. Department of the Treasury announced the appointment of Patricia “Patty” S. Collins to serve as the 27th Director of the Bureau of Engraving and Printing (BEP). Ms. Collins brings decades of senior federal service to the role, including a 24-year career in the U.S. Army. Additionally, Patty is the first woman […]
Treasury Sanctions China-Linked Hackers for Targeting U.S. Critical Infrastructure
The U.S. and UK take action against actors affiliated with the Chinese state-sponsored APT 31 hacking group. WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Wuhan Xiaoruizhi Science and Technology Company, Limited (Wuhan XRZ), a Wuhan, China-based Ministry of State Security (MSS) front company that has served as cover […]