John and Elliot discuss several developments impacting the financial crime community this week. These include a report on foreign investment in the US, the interagency statement on the AML/CFT program proposal, and the regulatory agenda for the Treasury Department. They also talk about the report from the House Financial Services Committee working group on AI, new sanctions on fentanyl producers, and a Europol report on migrant smuggling.

Foreign Investment in the US, Fentanyl Sanctions, Europol Report on Trafficking, and Much More

« Nous condamnons l’AFC et ses membres, dont le M23, qui alimentent un conflit sanglant et exacerbent la crise humanitaire dans l’est de la RDC », a déclaré un représentant du gouvernement américain le jeudi 25 juillet. Ce jour-là, les États-Unis ont imposé (https://www.state.gov/translations/french/le-tresor-sanctionne-lalliance-rebelle-entrainant-linstabilite-en-republique-democratique-du-congo/) des sanctions visant l’Alliance Fleuve Congo (AFC). Le lendemain, l’Union européenne (UE) a, elle aussi, annoncé (https://www.consilium.europa.eu/fr/press/press-releases/2024/07/26/democratic-republic-of-the-congo-eu-lists-nine-individuals-and-one-entity/) de nouvelles sanctions.Alors qu’un nouveau cessez-le-feu vient d’être décidé, peut-on s’attendre à un impact de cette nouvelle vague de sanctions individuelles sur la situation à l’est de la RDC ?
Hébergé par Ausha. Visitez ausha.co/fr/politique-de-confidentialite pour plus d'informations.

Nouvelles sanctions occidentales contre l’AFC : des mesures uniquement symboliques ?

Check out this episode as we get firsthand insight from a Global Sanctions Analyst and even throw in a little ACAMS Exam question trivia. From discussing recent global events that have impacted OFAC and Sanctions enforcement to the use of Cryptoassets to help avoid Sanctions, this episode has it all.

FinCrime Insiders Ep. 5 - Global Sanctions Analyst II

Article Title 
Overcompliance: Another Way to Look at the Humanitarian Externalities of Sanctions.

Date
18 March 2024

Credits
Omar Abdulaziz Hallaj 

Link
https://www.lugarit.com/commentary/commentary-the-humanitarian-fallout-of-sanction-overcompliance

Summary
This article delves into the complex humanitarian externalities associated with the implementation of international sanctions, particularly through the lens of overcompliance. It discusses how, despite targeted intentions, sanctions can inadvertently affect non-sanctioned entities, primarily within the humanitarian and economic sectors. The paper draws from a diverse array of expert discussions and case studies, focusing on Syria to illustrate the ripple effects of such policies on local economies and humanitarian efforts. It critiques the broad impacts of overcompliance and advocates for clearer regulatory guidance, improved dialogue among stakeholders, and a more nuanced approach to sanction regimes to mitigate adverse consequences and better align political objectives with humanitarian concerns.

Beyond Intentions: The Humanitarian Fallout of Sanction Overcompliance

In theory, sanctions are designed to force governments to defend business interests, restore or seek democracy, respect human rights, protect the environment, fight corruption and tackle international crime and Latin America - according to a new report - is disproportionately targeted. 

"Sanctions in Latin America: the Regrettable Rise of a World of Prohibitions," a new report authored by Andrew Thompson a Latin America Analyst addresses the types of sanctions placed on countries and individuals or companies and groups in the region and the increasingly complex manners by which they are evaded. 

Tune in to hear from Andrew Thompson, his thoughts on the long-running sanctions placed on Cuba, those on Nicaragua and Venezuela and the reasons why they are mainly US-imposed.

The LatinNews Podcast

Sanctions in Latin America: An Important Diplomatic Tool or Ineffective Economic Coercion?

The United States government has imposed sanctions on more than one-third of countries on Earth, including over 60% of poor countries. Ben Norton documents how Washington's economic warfare is deadly in nations like Venezuela, Cuba, Iraq, Iran, and Syria. It is also fragmenting the global financial system, as China and Russia create alternatives. 

VIDEO: https://www.youtube.com/watch?v=qYUq_9XlQs0

Topics
0:00 USA has sanctions on 1/3rd of world
1:44 "Targeted" sanctions are a myth
3:16 Washington Post admits US is waging economic warfare worldwide
8:56 100,000+ Venezuelans died from US sanctions
10:50 Goal of US sanctions: "hunger, desperation and overthrow of government"
13:39 US government compares itself to Darth Vader
14:46 OFAC director sings, "Every little thing we do is sanctions"
16:05 Hundreds of thousands of Iraqis died from US-led Western sanctions
20:32 (CLIP) Madeleine Albright on Iraq mass deaths: "the price is worth it"
21:08 60% of poor countries face US sanctions
22:01 US dollar dictatorship and financial hegemony
24:13 Donald Trump's war on Venezuela
25:16 "Sanction everybody and their sister"
25:54 Boomerang of US sanctions: China, Russia, BRICS create alternatives
30:08 Russia re-industrializes, its economy grows rapidly
34:10 Too big to sanction - Is this the limit?
37:01 Outro

How the US wages economic war on countries all around the world

https://thecommunists.org/2024/06/17/news/theory/essence-of-ukraine-war-lessons-russia-smo/

On The Essence Of The Ukraine War and the lessons of Russia's SMO

What is a consumer boycott, related to the situation in Gaza?

In this conversation, we speak on how over the year, given various UN and ICJ rulings there is now a legal obligation on states to implement trade, arms embargoes and sanctions and on institutions, corporations and individuals to break all ties - the consumer boycott puts pressure on companies complicit in occupation and genocide, but we are also putting pressure to divest, end trade.

Guests: Roshin Dado from BDS and Abeedah Adams Provincial Secretary of GIWUSA, member of PSC and BDS

Boycotting for Change: An era of consumer activism | Radio 786

https://thecommunists.org/2024/07/25/news/media-blames-workers-corruption-fraud/

Media blames workers for the corruption and fraud endemic to capitalist society

‘I believe that it’s become very complex for financial institutions to actually comply. The ask by the Treasury to focus on sanctions evasion is really, in many ways, the bridge back to AML’
-Bill Fox on the global sanctions landscape and what it means for FIs
 
‘The only sector that really can enforce [sanctions] are the financial institutions sector. We are the police – even though we say all the time in the AML world that we’re not the police – I think we are the police when it comes to sanctions’
-Rick Small on the global sanctions landscape and what it means for FIs

On the latest episode of the Sanctions Space Podcast, Justine sat down with AML legends Rick Small, Executive Vice President, Director Financial Crimes program at Truist and Bill Fox, former Managing Director Financial Crimes at Bank of America. They discuss the intersection and interlinkage between sanctions and AML, assessing sanctions risk in a complex environment, and how the effectiveness of sanctions frameworks could be improved.

AML Legends Talk Sanctions

Radio 786 is a community broadcaster based in Cape Town, South Africa. 

The LatinNews Podcast is a fortnightly deep dive into key developments across Latin America and the Caribbean.

LUGARIT is a small think tank active in international development.

Insider knowledge on Financial Crimes Compliance and Anti-Money Laundering. Join us as we navigate the world of Financial Crimes together.

Marxist analysis of current events and scientific socialist theoretical insights from the CPGB-ML. Get educated and get organised!

Geopolitical Economy Report is an independent news outlet that provides original journalism and analysis to understand the changing world.

AML Conversations is dedicated to inform professionals and those interested in anti-money laundering about conversations happening in the government, private sector, and internationally. Throughout the series John Byrne, AML RightSource Vice Chairman, will interview industry experts or participate in live programming or panel discussions related to the industry.

Le Groupe d'étude sur le Congo (GEC) est un centre de recherche basé au sein de l'Université de New York. Ebuteli est un institut congolais de recherche sur la politique, la gouvernance et la violence. Il est  basé à Kinshasa et Goma en RDC.

New tracks tagged #Sanctions