WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two Mexican members of Cartel de Jalisco Nueva Generacion (CJNG) and two Mexican companies. CJNG, a Mexico-based criminal organization, is one of the largest producers and traffickers of illicit fentanyl to the United States. OFAC coordinated this action with […]
Category Archives: U.S. Treasury
CFIUS 2023 Annual Report Showcases High Level of Activity and Efficiency Across Functions
WASHINGTON – The Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), today released its Annual Report to Congress for calendar year 2023. The Annual Report highlights key indicators of CFIUS’s activities and provides statistics on transactions that CFIUS evaluated in 2023. “2023 was a busy year […]
Treasury Implements REPO for Ukrainians Act Reporting Requirement
WASHINGTON — Today, as part of implementing the historic Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (the “REPO for Ukrainians Act”), the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a new reporting requirement for financial institutions holding Russian sovereign assets. Pursuant to section 104(a) of the REPO for […]
Detailed Guidance and Press Schedule for Secretary of the Treasury Janet L. Yellen’s Travel to Brazil
WASHINGTON – From July 24-27, Secretary of the Treasury Janet L. Yellen will travel to Rio de Janeiro to participate in a G20 Finance Ministers and Central Bank Governors Meeting along with bilateral engagements with her counterparts, and events on the margins. Afterwards, on July 27, Secretary Yellen will travel to Belem, Brazil to participate […]
Agencies Request Comment on Anti-Money Laundering/Countering the Financing of Terrorism Proposed Rule
Four federal financial institution regulatory agencies today requested comment on a proposal to update their requirements for supervised institutions to establish, implement, and maintain effective, risk-based, and reasonably designed anti-money laundering and countering the financing of terrorism (AML/CFT) programs. The amendments are intended to align with changes concurrently proposed by the U.S. Department of the […]
Treasury Sanctions Leader and Primary Member of the Cyber Army of Russia Reborn
The United States exposes the identity of and imposes sanctions on two members of the Russian government-aligned hacktivist group. WASHINGTON — Today, the United States designated Yuliya Vladimirovna Pankratova (Pankratova) and Denis Olegovich Degtyarenko (Degtyarenko), two members of the Russian hacktivist group Cyber Army of Russia Reborn (CARR) for their roles in cyber operations against U.S. critical […]
Agencies Finalize Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations
Five federal regulatory agencies today issued final guidance addressing reconsiderations of value (ROVs) for residential real estate transactions. The guidance advises on policies and procedures that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the […]
OCC Announces Enforcement Actions for July 2024
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the […]
Treasury Maintains Pressure on Houthi Illicit Shipping and Finance Schemes
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating and identifying as blocked property a dozen persons and vessels, respectively, that have played a critical role in financing the Houthis’ destabilizing regional activities as part of the network of Sa’id al-Jamal. Today’s action includes Indonesia-based Malaysian and […]
Treasury Targets Transnational Criminal Organization Smuggling Migrants into the United States
Action Taken in Coordination with Partners in U.S. and Mexico WASHINGTON — Today Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Abdul Karim Conteh Human Smuggling Organization (Karim HSO), a transnational criminal organization (TCO) based in Tijuana, Mexico. Human smuggling is a federal crime in which criminals smuggle noncitizens into the United States, as well as […]