WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two Syrian money service businesses that have secretly helped the Syrian regime under Bashar al-Assad and its Hizballah and Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) allies maintain access to the international financial system in violation of international sanctions. OFAC […]
Category Archives: U.S. Treasury
Treasury Sanctions China- and Mexico-Based Enablers of Counterfeit, Fentanyl-Laced Pill Production
Action Taken in Coordination with U.S. Law Enforcement and the Government of Mexico WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 17 individuals and entities involved in the international proliferation of equipment used to produce illicit drugs. These targets are directly or indirectly involved in the […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva
WASHINGTON — Earlier today, Secretary of the Treasury Janet L. Yellen met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss this year’s Article IV consultation with the United States. Secretary Yellen reiterated the importance of frank and thorough assessments of all IMF member economies through the annual surveillance process, especially as countries […]
OCC Revises Bank Enforcement Manual to Address Actions Against Banks with Persistent Weaknesses
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced revisions to its policies and procedures manual on bank enforcement actions to reflect its consideration of actions against banks that exhibit or fail to correct persistent weaknesses. Policies and Procedures Manual (PPM) 5310-3, “Bank Enforcement Actions and Related Matters,” now includes “Appendix C: Actions […]
READOUT: U.S. Department of the Treasury, IRS Convene Roundtable Discussion on How Pilot Program for Free, Online Filing Option Provided by IRS Will Benefit Underserved Communities
WASHINGTON, D.C. – Today, Department of the Treasury Chief Implementation Officer Laurel Blatchford and Internal Revenue Service (IRS) Acting Chief Transformation Officer Bridget Roberts convened a roundtable discussion with civil rights and advocacy organizations to discuss the need to make tax filing easier and less expensive for taxpayers, particularly in underserved communities. During the conversation, Treasury […]
U.S. Department of the Treasury Kicks Off Public-Private Executive Steering Group to Address Cloud Report Recommendations
WASHINGTON—The U.S. Department of the Treasury today announced the formal launch of the Cloud Executive Steering Group (CESG), a public-private partnership dedicated to bolstering regulatory and private sector cooperation. First announced as part of Treasury’s Financial Services Sector’s Adoption of Cloud Services report released in February), the multi-pronged follow-up effort aims to ensure that Treasury, […]
Treasury Sanctions the Head of the Wagner Group in Mali
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Ivan Aleksandrovich Maslov (Maslov), the head of Russian Private Military Company ‘Wagner’ (Wagner Group) paramilitary units and its principal administrator based in Mali. The Wagner Group and its leader, Yevgeniy Viktorovich Prigozhin, are sanctioned under multiple authorities, including for […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with United Kingdom Shadow Chancellor of the Exchequer Rachel Reeves
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen met today with United Kingdom Shadow Chancellor of the Exchequer Rachel Reeves. The Secretary discussed Russia sanctions and support for Ukraine, as well as policies to generate growth and jobs. Related posts: Secretary Janet L. Yellen Provides Official Signature for 2021 United States Paper […]
Treasury Designates Terror Operatives and Illicit Charcoal Smugglers in Somalia
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) targeted 26 individuals and entities connected with the terrorist group al-Shabaab, including 15 financial facilitators and operatives, four charcoal smugglers, and seven of their associated companies. This action targets key regional leaders, affiliates, and members of the terrorist group in […]
Remarks by Under Secretary for International Affairs Jay Shambaugh at the Society for International Development Annual Conference
As Prepared for Delivery I. Global Outlook for Development Thank you Leland, and thank you to the Society for International Development for welcoming me today to this conference. You represent the diversity and broad scope of professionals working on international development, and I know that we share a common commitment to working more effectively and […]