APC Compliance and Regulatory Services’ Post

According to LSEG Data & Analytics, the number of unique sanctioned persons globally has ballooned to over 70,000 – a 370% increase since 2017. The convergence of AML/CTF Tranche 2 reforms, and the exponential growth in sanctioned entities, underscores the challenge facing reporting entities but also why the reforms are sorely needed.

UN Report: Illegal Houthi “Piracy” Funds Conflict in Yemen A recent UN report reveals that Yemen’s Houthi are earning around $180 million each month through illegal “protection fees” from shipping companies in the Red Sea and Gulf of Aden. This unauthorized activity—essentially maritime piracy—allows Houthis to threaten vessels in exchange for payments, violating international laws. The revenue funds Houthi military activities and fuels ongoing instability in Yemen. https://lnkd.in/dCFjkwex #MaritimeSecurity #Piracy #UN #Yemen

✅ The European Union approved introducing criminal penalties for EU sanctions’ violations.   💣 Governments and organisations around the world create sanctions lists to improve the fight against criminal activities related to, for example, drug trafficking, terrorist financing, money laundering, or the proliferation of mass destruction weapons.   💥 Sanctions are very important instruments used on a national and international level to improve, among other things, economic and financial security. Unfortunately, these restrictive measures are, from time to time, violated or omitted.    📃 That is why the European Union accepted a new directive aimed at limiting sanctions circumvention and tightening their enforcement. According to the document, EU member states may impose penalties that range from criminal prosecution to administrative sanctions.    👉 More information may be found here: https://lnkd.in/eCBXutAY     ✅ In this context, it is worth emphasising that access to current sanctions lists and ongoing verification of all clients and contractors on these lists are very important for each organisation.    💻 If you would like to improve your business activities in the area of clients’ and contractors’ verification, we invite you to test our iAML Scanner for free. It is a comprehensive, daily updated solution for automated verification of persons and entities on sanctions lists (including sanctions imposed because of Russia's attack on Ukraine), PEP lists, and the list of high-risk countries.    👉 Please contact us at dok@iaml.com.pl to receive free access to the test version of the iAML tools.   #selfadvertisement #iaml #incasogroup #aml #cft #moneylaundering #antimoneylaundering #counteringfinancingterrorism #sanctions #sanctionslists #sanctionlists #AMLregulations #EU

Sanctions Watch | Weekly Vol. 42 | 25 Mar – 31 Mar 2024 Powered By- PreScreening. IO Introducing the 42nd edition of the Sanctions Watch weekly digest, we present significant updates on sanction watchlists and regulatory developments. Major Headlines: 1. GENERAL LICENCE – Active Denizcilik and Beks Ships Transit to Port and Wind Down 2. EU Commission updates 2 Russia FAQs on shipping insurance payments 3. How to request variation or revocation of a financial sanction designation under The Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 4. BIS Updates Freight Forwarder Guidance And Best Practices Read more: https://zurl.co/4w6f Product Insights - https://zurl.co/AiyO #OFSI #GeneralLicence #EuropeanUnion #FAQs #Russia #Vessels #UnitedKingdom #DesignatedPersons #BureauofIndustryandSecurity #BIS #IllegalExports #SanctionsWatch #InternationalSanctions #EconomicSanctions #RegulatoryCompliance #TradeCompliance #SanctionsEnforcement #SanctionsViolations

Considering the impact of the previous six round rounds of sanctions against the Houthis, this looks a lot more like political signalling rather than concrete action. Moreover, it doesn't add to the credibility of a sanctions regime when it comes in piecemeal announcements without a clear enforcement strategy. https://lnkd.in/daGXXqJR #sanctions #Houthis #RedSea #Yemen

On September 2, the U.S. Department of Justice announced the seizure of a Dassault Falcon 900EX aircraft, which was owned and operated for the benefit of Nicolás Maduro Moros and his affiliates in Venezuela. The aircraft, valued at approximately $13 million, was seized in the Dominican Republic and transferred to the Southern District of Florida due to violations of U.S. export control and sanctions laws. Key Details: 1. Illegal Exportation: The Dassault Falcon 900EX was allegedly purchased through a shell company to conceal Maduro’s involvement and was smuggled out of the United States to Venezuela via the Caribbean in April 2023. 2. National Security Concerns: The aircraft has been used almost exclusively by Maduro and his representatives, including for transportation to other countries, highlighting concerns over the misuse of U.S. resources. 3. Coordinated Effort: This seizure was the result of coordinated efforts by the U.S. Department of Justice, Department of Commerce, and Homeland Security Investigations, with significant assistance from authorities in the Dominican Republic. 4. Enforcement Message: Attorney General Merrick B. Garland emphasized the U.S. government’s commitment to pursuing those who violate sanctions and export controls, ensuring that such assets do not undermine U.S. national security. Stay informed on critical legal developments, unlock cutting-edge legal intelligence with our subscription free platform — stay ahead in your industry! Explore GRI : https://lnkd.in/gZmkUPim #Sanctions #ExportControl #NationalSecurity #GRI

It was cold and rainy on Sunday so while waiting for the clouds to clear so that I could get a run in, sad person that I am, I crunched some numbers on the dark fleet and sanctions. This is what I found: * OVER a fifth of dark fleet tankers are now under Western sanctions, with a rising number of these ships falsely flying flags of prior registries or flying flags of fraudulent registries. ( That's 131 out of the 667 elderly and anonymously owned tankers tracked in Venezuelan, Iranian or Russian oil trades that comprise the so-called dark or parallel fleet, and doesn't count sanctioned Sovcomflot tankers. * Of the 131 tankers in the dark fleet subject to sanctions, 52 are falsely flagged. Guyana, Eswatini and Guinea are the three false registries being used by 34 tankers, according to data compiled from Lloyd’s List Intelligence and Equasis. Six tankers have unknown flags, while continue to falsely fly the flags of registries that have removed them after being designated, including those formerly with Liberia, Palau, Comoros, San Marino, and Sao Tome and Principe. Other tankers are show as being falsely flagged with Curacao, Saint Maarten and Netherlands Antilles. * The EU, UK and US have sanctioned 185 vessels of all types during 2024 for breaching various sanctions on Russia. A further 50-odd ships are also being considered for designation by the EU. * US Office of Foreign Assets Control also designated a further 117 ships relating to programmes against Iran and other counter-terrorism measures where shipping is financing Houthi activities in the Red Sea and Hezbollah in Lebanon. These are sobering statistics given the risk these subsubstandard ships pose, and given that sanctions drive them further into the shadows. The coordinated attempts of the EU/UK/US to deal with the dark fleet their sanctions have created is something that is going to yield even more stories in 2025. https://lnkd.in/e9bWWAyr

OFAC has de-listed Alexey Panferov from its Russia sanctions list and Marina Tsareva from its cyber sanctions list. No reasons were provided for the de-listings. Alexey Panferov was linked by OFAC to Sovcombank and designated in March 2022. Marina Tsareva was designated in August 2018 for allegedly circumventing US sanctions by procuring a variety of underwater equipment and diving systems for Russian government agencies. #UKSanctions #Russia #EUCommission #ExportControl #TradeWar #TSECS #SanctionsUpdate #TurkishSociety #Sanctions #USA #OFAC #BIS #TradeUpdates #GlobalTrade #TradeCompliance #InternationalRelations #EconomicSanctions #TradeRegulations #TurkishExports #TradePolicy #SecurityMatters #ForeignPolicy #ComplianceNews #EconomicSecurity #CrossBorderBusiness

On Monday, the British government imposed sanctions on 30 additional ships, claiming they are part of Russia’s "shadow fleet." This brings the total number of vessels under U.K. sanctions to 73. In addition, sanctions were imposed on two Russian insurers accused of facilitating the operation of the "shadow fleet." According to the Foreign, Commonwealth and Development Office (FCDO), half of the ships recently sanctioned were involved in transporting over $4.3 billion worth of oil and products last year. The FCDO also highlighted Russia’s growing reliance on countries like North Korea and Iran for military support, noting that two sanctioned oil tankers, Artemis (flagged to Gabon) and Sea Fidelity (flagged to Honduras), have been "idling" in the Baltic Sea since last month. In today’s complex maritime landscape, staying ahead of sanctions is crucial. That’s where Pole Star Global comes in. Pole Star’s cutting-edge software solutions help you identify high-risk vessels before they’re officially sanctioned. With instant alerts on suspicious activity, you’ll be able to act swiftly and stay one step ahead of bad actors. To find out more, get in touch today: [https://lnkd.in/ePnpHJyp] . . . . . #Maritime #Sanctions #Compliance #SeaClearly #PoleStarGlobal

US sanctions on Houthis over Red Sea attacks take effect - https://lnkd.in/d2Gxg_Uc #cruiseindustry #maritime #maritimenews #maritimeindustry #ship #shipnews #maritimelogistics #cruise #cruiseship