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Weekly Roundup: FinCEN Issues Warning on Syrian PEPs, Russia Publishes First Sanctions List, And More
printThe Financial Crimes Enforcement Network (FinCEN) warned financial institutions on Friday about the risks of doing business with Syrian senior political figures. In three pages of guidance, FinCEN described the Office of Foreign Assets Control's sanctioning of President Bashar Assad's regime and those close to him, including his cousin Rami Makhluf, who is believed to be taking steps to protect his money, properties and assets. FinCEN also reminded financial institutions of their obligation to file suspicious activity reports on senior foreign political figures whose transactions are suspected to be tied to illegal activity. More Russia issued its first ever sanctions...
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