WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking its second price cap enforcement action of 2024, imposing sanctions on four entities and identifying one vessel as blocked property. The network of these entities and the vessel were involved in a price cap violation scheme in late […]
Category Archives: U.S. Treasury
Treasury Publishes 2024 National Risk Assessments for Money Laundering, Terrorist Financing, and Proliferation Financing
Reports Confirm and Update Key Illicit Finance Concerns in Response to Evolving Threat and Risk Environment WASHINGTON – Today, the U.S. Department of the Treasury published the 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing. These reports highlight the most significant illicit finance threats, vulnerabilities, and risks facing the United States. […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Travel to France
WASHINGTON – From February 5-6, Deputy Secretary of the Treasury Wally Adeyemo traveled to Paris, France to meet with senior French government counterparts and continue our close coordination with France on holding Russia accountable for its war against Ukraine. In engagements with senior officials at the Elysée, the Prime Minister’s Office, the Ministry of Finance, […]
Treasury Sanctions Ecuador’s Notorious Los Choneros Gang and Its Leader
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned one of Ecuador’s most violent gangs, Los Choneros, and its leader, José Adolfo Macías Villamar (also known by the alias “Fito”), pursuant to counter narcotics authorities. OFAC’s action follows a steep rise in violence in Ecuador attributed to the actions […]
READOUT: Treasurer Chief Malerba Outlines Biden-Harris Administration’s Historic Support for Tribal Communities at the National American Indian Housing Council’s Legislative Conference
WASHINGTON – Yesterday, U.S. Treasurer Chief Lynn Malerba delivered keynote remarks at the National American Indian Housing Council’s 2024 Legislative Conference. During her remarks, Chief Malerba discussed the Biden-Harris Administration’s historic support for Tribal communities, including efforts to strengthen housing security in Indian Country that prevented a wave of evictions and foreclosures. In December at […]
Federal Bank Regulatory Agencies Seek Comment on Interagency Effort to Reduce Regulatory Burden
The federal bank regulatory agencies today published their first of a series of requests for comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork Reduction Act of 1996 requires the Federal Financial Institutions Examination Council and federal bank regulatory agencies to review their regulations every 10 years to identify any outdated or otherwise […]
U.S. Department of the Treasury, IRS Release New Analysis Showing the High Return on Investment from Inflation Reduction Act Resources
More comprehensive estimates show transformative investments, if sustained, will result in $851 billion in additional revenue through 2034 WASHINGTON – Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released a new analysis showing the high return on the Inflation Reduction Act (IRA) investment in rebuilding and modernizing the IRS. Taking a […]
READOUT: Third Meeting of the Economic Working Group Between the United States and the People’s Republic of China
The United States and the People’s Republic of China held the third meeting of the Economic Working Group (EWG) on February 5-6. This was the first meeting of the EWG in 2024 and its first meeting in China. Senior officials from the U.S. Department of the Treasury and China’s Ministry of Finance convened for the two-day EWG meetings […]
Treasury Sanctions Transnational Procurement Network Supporting Iran’s Ballistic Missile and UAV Programs
Action includes designation of a Qods Force financial front company WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a key procurement network of prolific suppliers of materials and sensitive technology for Iran’s ballistic missile and Unmanned Aerial Vehicle (UAV) programs, including the Shahed-series UAV produced by Iran’s […]
Treasury Sanctions Actors Responsible for Malicious Cyber Activities on Critical Infrastructure
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six officials in the Iranian Islamic Revolutionary Guard Corps Cyber-Electronic Command (IRGC-CEC), an Iranian government organization responsible for a series of malicious cyber activities against critical infrastructure in the United States and other countries. “The deliberate targeting of critical infrastructure […]