The U.S. Treasury Department wants more tools to curb terror financing. Deputy Secretary Adewale O. Adeyemo is due to testify before the Senate Banking Committee Tuesday (April 9) and ask lawmakers for greater authority to block terrorist groups and state actors for using things like overseas cryptocurrency...
Authorities are reportedly investigating billions in cryptocurrency transfers that moved through a Russia-based exchange. The probe into the $20 billion-plus payments is part of efforts by the U.S. and Great Britain to crack down on sanctions evasions amid Russia’s war in Ukraine, Bloomberg News reported Thursday...
The U.S. has sanctioned 13 Russia-linked FinTechs for allegedly using cryptocurrency to evade bans. “Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine,” Brian Nelson, undersecretary of the U.S. Treasury for terrorism and financial intelligence,...
Iran reportedly used two of Great Britain’s largest banks to get around sanctions. Santander UK and Lloyds provided accounts to front companies owned by sanctioned Iranian petrochemical companies, the Financial Times reported Sunday (Feb. 4), citing documents seen by the paper’s journalists. According to the report, the state-run Petrochemical...
May 27, 2022
Sanctions have been dominating headlines. Nithai Barzam, COO of nsKnox, a corporate payment security company, told PYMNTS’ Karen Webster that beyond the sanctions that have been designed to rock Russia to its economic foundations lie some fundamental hard truths for enterprises around the globe. Namely, that it’s hard to find out who’s on sanctions lists, […]
April 28, 2024
Sanctions on payments between China and Russia have reportedly created a thriving market for middlemen. In fact, half of all payments by Russian companies for Chinese products are now handled by intermediaries, Reuters reported Friday (April 26), citing four sources. As the report noted, the United States Treasury has warned it could impose sanctions on […]
April 09, 2024
The U.S. Treasury Department wants more tools to curb terror financing. Deputy Secretary Adewale O. Adeyemo is due to testify before the Senate Banking Committee Tuesday (April 9) and ask lawmakers for...
March 28, 2024
Authorities are reportedly investigating billions in cryptocurrency transfers that moved through a Russia-based exchange. The probe into the $20 billion-plus payments is part of efforts by the U.S. and Great Britain...
March 26, 2024
The U.S. has sanctioned 13 Russia-linked FinTechs for allegedly using cryptocurrency to evade bans. “Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund...
