All Articles

The United States has imposed sanctions on Iranian cryptocurrency exchange BitBank, its software developer and three individuals linked to Iranian financier Babak Zanjani, alleging that the network facilitated the movement of hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard Corps (IRGC). The designations were announced by the US Department of the Treasury's Office of Foreign Assets Control (OFAC) on 17 September 2026 under Executive Order 13902, w

The United States has imposed new sanctions on Russia’s VTB Bank over its alleged involvement in Iranian financial activities and efforts to circumvent US sanctions. The action was taken by the Office of Foreign Assets Control under Executive Order 13902, which authorises sanctions against persons operating in specified sectors of the Iranian economy, including the financial sector. The designation concerns VTB Bank Public Joint Stock Company, one of Russia’s largest financia

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Xinbi Guarantee, a Chinese-language online marketplace that US authorities say has been used extensively to support cyber scams, fraud, money laundering and other criminal activity targeting Americans. The designation was announced on September 9, 2026, as part of coordinated action involving the Treasury Department, the Department of Justice and the Scam Center Strike Force. OFAC also

Huawei Technologies has gone on trial in federal court in Brooklyn, New York, in a long-running criminal case involving allegations of sanctions violations, bank fraud, wire fraud, money laundering, racketeering and theft of trade secrets. Jury selection began on September 8, 2026, almost eight years after US authorities initially brought charges against the Chinese telecommunications company. Prosecutors allege that Huawei used a network of corporate relationships and intern

Citibank's London branch has been fined £4.73 million by the UK's Office of Financial Sanctions Implementation (OFSI) after a regulatory investigation identified widespread failures that allowed hundreds of transactions involving sanctioned Russian entities and individuals to pass through the bank. The penalty relates to 970 payments with a combined value of approximately £19.7 million. Most of the breaches occurred between February and November 2022, following the introducti

Finance ministers and central bank governors from the world's largest economies have gathered in Asheville, North Carolina, for discussions dominated by geopolitical tensions, trade disputes and efforts to address mounting global debt. The two-day meeting is taking place under the US presidency of the G20 finance track, with Washington seeking international backing for its campaign to increase economic pressure on Iran. At the same time, disagreements over US tariffs have com

More than $5.2 million has been forfeited by ENEX Premium Trading Limited following a UK investigation into suspected money laundering and sanctions evasion, highlighting the growing use of civil recovery powers to target potentially illicit funds without requiring a criminal conviction. The agricultural trading company, which is registered in St Kitts and Nevis and owned by Azerbaijani national Nadir Valiyev, agreed to surrender approximately £3.84 million after investigator

The United Kingdom has expanded its sanctions regime against Russia, targeting banks, financial businesses, vessels and companies connected to the country's energy sector and sanctions-evasion networks. The latest measures are intended to restrict Russia's ability to generate revenue from oil exports and access international financial services, while increasing pressure on the networks used to circumvent restrictions imposed since the invasion of Ukraine. The measures include

The seizure of the shadow fleet oil tanker MV Smyrtos in the English Channel by British law enforcement and military personnel has resulted in criminal charges carrying a maximum penalty of ten years’ imprisonment, a fine, or both, for the vessel’s commander. Following an extensive investigation led by the National Crime Agency, the Crown Prosecution Service authorized charges against Indian national Ajay Pant on June 15, 2026. The case represents a significant enforcement ac

The United States Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on four of Iran's most significant cryptocurrency trading platforms, accusing them of enabling illicit financial activity, supporting terrorism-related financing, and assisting in the circumvention of international economic restrictions. The action specifically names Nobitex, the country's largest digital asset exchange by market share, along with Wallex, Bitpin, and R

The United States government has intensified its counterterrorism enforcement efforts by freezing the financial infrastructure connected to transnational procurement networks allegedly supporting a Hamas-backed flotilla attempting to reach Gaza. Through coordinated sanctions enforcement, the Office of Foreign Assets Control implemented broad asset freezes targeting international organizers and political operatives associated with maritime delivery initiatives and religious co

The creation and rapid rise of the Iranian cryptocurrency exchange Nobitex by individuals connected to one of Iran’s most powerful political dynasties has intensified international concerns about the growing overlap between digital asset infrastructure and sanctioned state networks. The case has drawn attention to the increasingly sophisticated ways in which domestic financial institutions in sanctioned jurisdictions may use decentralized technologies to move wealth beyond th

European Union envoys are on the verge of approving a 20th round of sanctions against Russia in response to its ongoing war in Ukraine, with Slovakia and Hungary expected to withdraw their opposition following repairs to the Druzhba oil pipeline, according to EU diplomats. The bloc had initially aimed to adopt the package in time to mark the fourth anniversary of Russia’s full-scale invasion on February 24, underscoring the symbolic and political significance of the measures.

On April 17th, Deutsche Bank has notified its supervisory authorities of a possible breach of sanctions rules restricting deposits held by Russian individuals to less than 100,000 euros ($117,940), according to a person with knowledge of the matter. The potential compliance issue was disclosed to supervisors after concerns emerged that some deposits may have exceeded the threshold established under sanctions measures targeting Russian individuals. The possible breach came to

The United States Department of the Treasury has recently unveiled a sweeping set of sanctions aimed at six individuals and entities connected to the Cartel del Noreste, a violent criminal organization operating in Mexico. The measures focus specifically on dismantling the group’s financial infrastructure, particularly its ability to move illicit proceeds across the US-Mexico border near Laredo, Texas. By designating three individuals and three commercial entities, authoritie

The United States Senate has significantly intensified its federal investigation into Binance following revelations of a potential $1.7 billion discrepancy in reported transactions tied to sanctioned entities. The escalation comes after an April 1 directive requiring the exchange to submit detailed transaction data, internal calculation methodologies, and a full accounting of wallet addresses linked to high-risk jurisdictions. At the center of the inquiry is the stark inconsi

Apple Distribution International Limited has been ordered to pay a financial penalty of £390,000 after the Office of Financial Sanctions Implementation concluded that the company breached U.K. sanctions by making prohibited payments to a Russian entity. The case represents a notable development in British financial regulation, marking the first time a sanctions violation has been resolved through a formal settlement mechanism. The violations involved transfers totaling more t

European policymakers are facing mounting pressure to overhaul trade regulations after revelations that an Irish refinery supplied raw materials to Russian smelters connected to sanctioned weapons manufacturers. The Belgian government has emerged at the forefront of efforts to push the European Union toward expanding its sanctions regime, seeking to block EU-origin materials from indirectly fueling Russia’s military operations. This diplomatic initiative follows investigative

Tomas Niembro Concha, the former chief executive officer of Nodus International Bank, has pleaded guilty to orchestrating a vast financial conspiracy that siphoned at least $24.9 million from the institution while simultaneously circumventing United States sanctions. Federal prosecutors in the Southern District of Florida revealed that Concha leveraged his leadership position to treat the regulated bank as a personal source of capital for illicit enrichment and prohibited for