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Economic Sanctions & Anti-Money Laundering

Economic Sanctions & Anti-Money Laundering

Our team advises U.S. and non-U.S. clients across industries on their most sensitive U.S. economic sanctions and Bank Secrecy Act/anti-money laundering (BSA/AML) issues. With our preeminent regulatory defense and white collar experience, we are uniquely positioned to assist clients in responding to regulator inquiries, examinations and subpoenas; conducting internal investigations; and handling matters that develop into multi-agency civil and criminal investigations. Our practice also encompasses regulatory advice, compliance counseling and transactional due diligence. 

PUBLICATIONS

DOJ and OFAC Reach Historic Resolutions With British American Tobacco for North Korea Sanctions Violations

DOJ and OFAC Reach Historic Resolutions With British American Tobacco for North Korea Sanctions Violations

The U.S. Department of Justice and the U.S. Department of Treasury Office of Foreign Assets Control (OFAC) recently reached resolutions with British American Tobacco and its Singaporean subsidiary to resolve charges of bank fraud and North Korea sanctions violations.

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Publications

John Carlin Discusses Increased Sanctions Compliance Pressure on Private Sector With Reuters

John Carlin Discusses Increased Sanctions Compliance Pressure on Private Sector With Reuters

Litigation partner John Carlin spoke with Reuters about the expected surge in sanctions and export control enforcement as the U.S. government leans on economic tools to counter global adversaries.

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PUBLICATIONS

BIS Imposes $300 Million Penalty Against Seagate and Makes Controversial Changes to Voluntary Self-Disclosure Program

BIS Imposes $300 Million Penalty Against Seagate and Makes Controversial Changes to Voluntary Self-Disclosure Program

The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) imposed a $300 million civil penalty to resolve alleged violations of U.S. export controls involving sales to a Chinese company on the Entity List.

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EVENTS

Roberto Gonzalez to Moderate Panel with Justice, Commerce and Treasury Officials on Russian Sanctions Evasion

Roberto Gonzalez to Moderate Panel with Justice, Commerce and Treasury Officials on Russian Sanctions Evasion

Litigation partner Roberto Gonzalez, will moderate a panel, “KleptoCapture Task Force: Status Report on Catching Sanctions Evaders and Seizing Russian Oligarchs' Assets,” as part of the American Conference Institute's sanctions conference on April 26 in Washington, D.C.

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PUBLICATIONS

OFAC and BIS Announce Expansive New Sanctions and Export Controls Targeting Russia and Belarus

OFAC and BIS Announce Expansive New Sanctions and Export Controls Targeting Russia and Belarus

On the one-year anniversary of Russia’s invasion of Ukraine, the U.S. government announced a new wave of sweeping sanctions and export controls targeting Russia as well as Belarus for its role in continuing to support Russia’s invasion of Ukraine.

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Publications

Economic Sanctions and Anti-Money Laundering Developments: 2022 Year in Review

Economic Sanctions and Anti-Money Laundering Developments: 2022 Year in Review

This memorandum surveys U.S. economic sanctions and anti-money laundering developments and trends in 2022 and provides an outlook for 2023. 

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Publications

DOJ and FinCEN Take Coordinated Action Against Bitzlato Cryptocurrency Exchange and Its Owner

DOJ and FinCEN Take Coordinated Action Against Bitzlato Cryptocurrency Exchange and Its Owner

In the first order of its kind, the U.S. Department of the Treasury’s FinCEN identified global cryptocurrency exchange Bitzlato as a “primary money laundering concern” under the Combating Russian Money Laundering Act.

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Events

John Carlin to Discuss Trajectory of Regulations and Enforcement at Kharon Global Summit

John Carlin to Discuss Trajectory of Regulations and Enforcement at Kharon Global Summit

Litigation partner John Carlin will participate in a panel, “Policy Outlook: Discussions on the Trajectory of Regulations & Enforcement,” as part of the 2023 Kharon Global Summit.

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Publications

OFAC Enforcement Action Targets U.S.-Incorporated Cryptocurrency Exchange for Apparent Violations of U.S. Sanctions

OFAC Enforcement Action Targets U.S.-Incorporated Cryptocurrency Exchange for Apparent Violations of U.S. Sanctions

The U.S. Treasury’s Office of Foreign Assets Control recently reached a monetary settlement with U.S.-incorporated cryptocurrency exchange Payward, Inc., popularly known as Kraken, over apparent sanctions violations in connection with several hundred transactions processed by Kraken on behalf of individuals located in Iran. 

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Publications

DOJ Prosecutions Reflect Aggressive Stance Toward Russian Sanctions and Export Control Evasion

DOJ Prosecutions Reflect Aggressive Stance Toward Russian Sanctions and Export Control Evasion

Two U.S. Attorneys’ offices, in coordination with the DOJ’s Task Force KleptoCapture, charged multiple individuals and corporate entities with participating in schemes to evade U.S. sanctions and export controls applicable to Russia.

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Events

David Kessler Discusses Recent Developments Related to Financial Crimes and Corporate Criminal Enforcement in NYSBA Webinar

David Kessler Discusses Recent Developments Related to Financial Crimes and Corporate Criminal Enforcement in NYSBA Webinar

Litigation counsel David Kessler spoke in a New York State Bar Association webinar, “Financial Regulation/Money Laundering Hot Topics,” on May 11.

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Events

Jessica Carey to Speak on Institute of International Bankers Panel on Suspicious Activity Reports

Jessica Carey to Speak on Institute of International Bankers Panel on Suspicious Activity Reports

Litigation partner Jessica Carey will participate in the panel “A Case Study in SARs Writing” as part of the Institute of International Bankers’ annual Anti-Money Laundering Seminar.

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Publications

Roberto Gonzalez and Joshua Thompson Author Two Chapters in <em>ICLG Sanctions 2023</em>

Roberto Gonzalez and Joshua Thompson Author Two Chapters in ICLG Sanctions 2023

Litigation partner Roberto Gonzalez and associate Joshua Thompson served as contributing editors of the International Comparative Legal Guide - Sanctions 2023, which is the fourth edition of this handbook.

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Events

David Fein to Discuss the Effectiveness of Financial Crime Detection Policy

David Fein to Discuss the Effectiveness of Financial Crime Detection Policy

Litigation special counsel David Fein will co-introduce a research presentation, “‘314(b) Effectiveness’ Policy Discussion,” and moderate a subsequent Q&A.

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Publications

Treasury Escalates Russia Sanctions, Including New Prohibition on the Provision of Certain Services

Treasury Escalates Russia Sanctions, Including New Prohibition on the Provision of Certain Services

The United States increased pressure on Russia to de-escalate its conflict in Ukraine through new sanctions targeting individuals and entities critical to Russia’s war efforts, as well as against the provision of accounting, trust and corporate formation, and management consulting services to Russia. 

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