OFAC Makes Further Iran-related Designations, Counter Terrorism Designations

The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) on January 30, 2024, designated two cybersecurity experts affiliated with the Islamic State of Iraq and Syria (“ISIS”) for providing ISIS leadership and supporters with cybersecurity training, enabling their use of virtual currency, and supporting the terrorist group’s recruitment. Additionally, OFAC designated an … Read more

OFAC DESIGNATES PERPETRATORS OF HUMAN RIGHTS ABUSE AND COMMEMORATES THE 75TH ANNIVERSARY OF THE UNIVERSAL DECLARATION OF HUMAN RIGHTS

On December 8, 2023, the United States Department of Treasury’s Office of Foreign Assets Control designated twenty individuals from nine different countries identified as perpetrators of human rights abuses. OFAC noted that, as December 10, 2023 marks the 75th anniversary of the Universal Declaration of Human Rights, and these designated are intended to reaffirm OFAC’s … Read more

FinCEN Issues Alert to Financial Institutions to Counter Financing to Hamas

On October 20, 2023, the Financial Crimes Enforcement Network (“FinCEN”) published an alert (the “FinCEN Alert”) to help assist financial institutions in identifying funding streams supporting the terrorist organization Hamas and reporting such activity to FinCEN. In the wake of the October 7, 2023 Hamas terrorist attack in Israel, the FinCEN Alert suggests that Hamas … Read more

Humanitarian Relief Efforts Related to the Earthquakes in Turkey and Syria

On February 6, 2023, powerful earthquakes devastated Turkey and Syria. Media reports indicate that the first earthquake, “which hit near the town of Gaziantep, was closely followed by numerous aftershocks – including one quake which was almost as large as the first.” The destruction caused by these earthquakes has toppled thousands of buildings, killed and … Read more

OFAC Designates Board of Directors of Iranian UAV Manufacturer as SDNs

On February 3, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on eight senior executives of Paravar Pars Company (Paravar Pars), an Iran-based firm that was previously sanctioned by the United States and European Union for manufacturing Shahed-series unmanned aerial vehicles (UAVs) for Iran’s Islamic Revolutionary Guard Corps … Read more

Designated: A Sanctions Podcast: EP4: Russian Energy Sector Sanctions Measures Implemented in Response to the Crisis in Ukraine

In this mini-series, we discuss the recent sanctions measures implemented in the U.S., E.U., and U.K. as a response to the crisis in Ukraine. In this episode, Jonathan Cross, Lode Van Den Hende, Elizabeth Head, and Brittany Crosby-Banyai focus on the recent sanctions that impact the Russian energy sector. Herbert Smith Freehills Podcasts · Designated: … Read more

Designated: A Sanctions Podcast EP3: Cross over event with The Bettor’s Verdict

In a special podcast cross over event, the Designated team joins The Bettor’s Verdict to discuss the Impact of Crypto on Sanctions and AML Laws in the United States.  In this episode, Designated host Jonathan Cross, is joined by The Bettor’s Verdict host Steve Jacobs, and Herbert Smith Freehills Partner John O’Donnell. Jonathan, Steven and … Read more