News

A senior Treasury official urged financial institutions to ramp up identification and reporting of suspected attempts by Russian officials and politically connected businessmen to evade sanctions imposed in the weeks since their country's invasion of Ukraine began. Institutions should discard a passive approach towards compliance pursuant to which they only heed to requests the government makes through advisories, frequently-asked-questions or other pronouncements, and embrace a proactive, real-time approach, Elizabeth Rosenberg, had of Treasury's Office of Terrorist Financing and Financial Crimes, said Monday. "Geopolitical events are evolving fast and we need financial institutions more than ever to act swiftly," Rosenberg told...