Monthly Archives: August 2017

U.S. OFAC, Iraq ISIS Finance EMIR

On 29 August, Treasury OFAC collaborated with Iraq on ISIS financier. Action taken targeting Salim Mustafa Muhammad al-Mansur an ISIS finance emir. The designation highlighted the US commitment to work with Government of Iraq. Named Financier Iraq barred Mansur from its financial system, and froze assets under its authority. Mansur's involvement with ISIS and predecessor, AQI,…
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European Union – ECB Fines PTSB for Liquidity

On 28 August, ECB fined PTSB €2.5mn for breach of liquidity rules. Permanent tsb Group Holdings plc breached ECB decisions on specific liquidity. ECB stated that this is the first enforcement action for breach of liquidity rule. Alleged Violation Fined €750k and €1.75mn for liquidity breach between October 2015 to April 2016. Noted breach did…
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U.S. CFTC Forex Ponzi Charges

On 24 August, CFTC filed enforcement on forex trading pool fraud. Thomas Lanzana, Nikolay Masanko, Blackbox Pulse, White Cloud Mountain LLC. As solicited customers to their foreign currency derivatives (forex) trading pools. Alleged Violations Charged for fraud, misappropriatng customer funds, and registration violations. Defendants solicited about $700k from 31 customers to invest in their FX pools. Masanko…
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U.S. OFAC Fines Iran Oil Exports

On 24 August, OFAC fined COSL Singapore $415k for oil exports to Iran. COSL Singapore is oilfield services company, subsidiary of China Oilfield Service. Alleged Violations Firm agreed to pay $415k fine, to settle 55 violations of Iranian trade sanctions. COSL has exported, or tried, 55 orders of oil rig supplies, from US to Singapore.…
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Malaysia – AML Closure MSBs

On 23 August, Bank of Malaysia enforcement on money service business. Central bank raided five premises, located in Perak, Pahang and Negeri Sembilan. Seized documents, cash, foreign currencies at DJ Travel & Tour, Fathima Warisan, Giant Supermarket in Senawang, Habeeb Textiles in Kuantan and Muadzam Shah. Four illegal immigrants involved, were detained by the Immigration Department.…
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U.S. SEC Adviser Defraud Athlete

On 22 August, SEC charged IA with defrauding professional athlete.   Jeremy Drake defrauded his clients, a high profile professional athlete, and wife. Drake, with HCR Wealth Advisors (LA), deceived the clients for over three years. Alleged Violation Deceived clients by telling them they were only paying special “VIP” annual rate. Said they paid 0.15-0.20%…
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