The UK's Office of Financial Sanctions Implementation has imposed a penalty (not a fine) on Citibank and the reason is surprising.

The USA's Internet Crime Complaints Center (sic) send out emails on topics that appear to be important.

But when they do so, they send them out using the number one tool in the online fraudster's toolkit. It's not new: it's been a problem for 30+ years.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a USD1,720,000 settlement with IMG Academy, LLC to settle its potential civil liability for 89 apparent violations (breaches) of OFAC counternarcotics sanctions.

If that all sounds a bit vague, wait until you see what the company (allegedly?) did. 

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a USD1,720,000 settlement with IMG Academy, LLC to settle its potential civil liability for 89 apparent violations (breaches) of OFAC counternarcotics sanctions.

If that all sounds a bit vague, wait until you see what the company (allegedly?) did. 

The Office of Financial Sanctions Implementation (OFSI) has imposed a £160,000 monetary penalty on Bank of Scotland Plc (part of Lloyds Banking Group), for breaching the Russia financial sanctions regime.

In Trade Based Financial Crime Vol 2, Nigel Morris-Cotterill wrote about businesses set up or adapted for the purposes of financial crime. 

One of the cases he wrote about has recently been back before the courts, a year after the book was published. 

Malaysia's Anti Corruption Commission recently relaunched its website and it's a model of open information, including a gallery of convicted offenders and much more.

A Philippines FinTech, FCash, has been ordered to pay damages to a customer after its app accessed information on her phone and used that information improperly.

OFAC's Sanctions List Service (SLS) provides users with easy access to the most up-to-date Sanctions Lists and Sanctions list data ready for immediate download. Users can choose to download from either the Specially Designated Nationals (SDN) List or the Consolidated (non-SDNs) List.

One of the most useful bits of information that the UK gov has released during its current regime change for companies in the UK.

A list of all Authorised Corporate Service Providers. 

The buck stops here when corporations are formed. If the system works.