The Office of Foreign Assets Control this week sanctioned three accountants and four companies linked to a timeshare fraud led by the Mexico-based Cartel de Jalisco Nueva Generacion. OFAC, the Financial Crimes Enforcement Network and the FBI also issued a joint alert urging financial institutions to submit suspicious activity reports to FinCEN about transactions that may be tied to timeshare fraud in Mexico, along with several red flags to monitor.
The U.K.’s Office of Financial Sanctions Implementation issued new guidance July 16 to clarify how its Russia-related sanctions apply to certain business services, including operating or managing a trust.
The Office of Foreign Assets Control this week updated an entry on its Specially Designated Nationals List for Aviad Shlomo Sarid, a leader of the group Tzav 9, an Israeli extremist group that the U.S. sanctioned in June for blocking aid to Gaza (see 2407110018 and 2406170030). The update revises identifying information for Sarid.
The Council of the European Union on July 15 sanctioned five people and three entities under its Global Human Rights sanctions regime for "serious and systematic human rights abuses against Palestinians in the West Bank," the council announced.
The Council of the European Union this week renewed until July 27, 2025, its sanctions on Iranian parties for supporting Russia's war in Ukraine. The restrictions apply to 12 people and nine entities, and were imposed on parties that supply unmanned aerial vehicles and missiles to the Russian military.
The Treasury Department’s Financial Crimes Enforcement Network issued an updated alert last week -- building on a set of red flags the agency released in February (see 2402010053) -- to help banks identify transactions that may be funding Israeli extremist violence against Palestinians in the West Bank. The alert includes more red flags that banks should monitor because they may signal a transaction is helping to finance violence in the region. Financial institutions that think a transaction may be tied to West Bank violence should submit a Suspicious Activity Report to FinCEN and reference the code “FIN-2024-WBEXTREMISM,” the agency said.
The Office of Foreign Assets Control last week released another video in its ongoing effort to provide guidance on U.S. sanctions programs and rules. The latest episode, released July 12, features guidance on “what it means when funds are blocked in connection with OFAC sanctions, as well as recommended steps for what to do if your funds have been blocked.”
China last week announced sanctions against six American defense companies and their senior executives for arms sales to Taiwan. The measures, taken under China’s anti-foreign sanctions law (see 2309270039 and 2310230032), target Anduril Industries, Maritime Tactical Systems, Pacific Rim Defense, AEVEX Aerospace, LKD Aerospace and Summit Technologies, according to an unofficial translation of a July 12 notice from the country’s Ministry of Foreign Affairs. The ministry said the sanctions freeze those companies’ assets in China, and Chinese companies will be barred from doing certain business with their executives. Spokespeople for the six companies didn’t respond to a request for comment.
The U.S. last week sanctioned Iran-based Hakiman Shargh Research Company and added it to its Specially Designated Nationals List for its ties to Iran’s chemical weapons research and development efforts, the State Department said. The agency said the designation "follows the United States’ repeated calls for Iran to remedy its noncompliance" with the Chemical Weapons Convention.
The U.S. sanctioned three more Israelis and five more Israeli entities for their involvement in violence or threats of violence against Palestinians in the West Bank. Among the designations are Isachar Manne and the Manne Farm Outpost, which the State Department said Manne established on land belonging to Palestinians. The agency also sanctioned Reut Ben Haim and Aviad Shlomo Sarid -- leaders of the group Tzav 9, which the U.S. sanctioned in June for blocking aid to Gaza (see 2406170030) -- as well as Lehava, Meitarim Farm, Hamahoch Farm and Neriya’s Farm. The U.S. has previously sanctioned Israelis for violence against Palestinians (see 2404190045 and 2403140019) after President Joe Biden signed an executive order in February authorizing those sanctions (see 2402010053).