Monday, August 2nd
Tuesday, August 3rd - No major development on this day.
Wednesday, August 4th
- No major development on this day.
Thursday, August 5th
- OFSI published a £50,000 penalty notice against TransferGo, a UK-based international money transmitter. The fine was imposed because TransferGo sent transactions to the individuals whose accounts were held with a sanctioned bank. (Here)
Friday, August 6th
- OFAC added five individuals to the SDN list under its Global Counter Terrorism program. (Here)
- The U.S. Department of State imposed visa restrictions (a type of sanction) on 50 immediate family members of Nicaraguan National Assembly representatives and Nicaraguan prosecutors and judges under section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2021. (Here)
Recommendations of the week
- This week I would like to recommend the second issue of the Financial Institutions Sanctions Compliance Journal. (Here)
- The second recommendation of the week is the latest episode of the Embargoed podcast by Brian Fleming and Tim O'Toole. This episode covers many recent developments namely the Hong Kong Business Advisory and the recent Cuban Magnitsky designations. (Here) Starting at 14:45 there is an interesting conversation about the recent approach of the U.S. government toward Human Rights oriented sanctions and their impact on unilateral programs like that of Cuba.
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