Page 14 - Compliance Monthly 10-7-2019

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AML News

OFAC Publishes Nicaragua Sanctions

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is adding regulations to implement Executive Order 13851 of November
27, 2018 (“Blocking Property of Certain Persons Contributing to the Situation in Nicaragua”). OFAC intends to supplement these regulations with
a more comprehensive set of regulations, which may include additional interpretive and definitional guidance, general licenses, and statements
of licensing policy.

Source: OFAC; Publication Date September 4, 2019 https://www.federalregister.gov/documents/2019/09/04/2019-19049/nicaragua-sanctions-
regulations

OFAC Issues Revised Iran FAQ

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is updating existing FAQ 296 and is publishing new FAQs regarding
bunkering of non-Iranian and Iranian vessels carrying goods to or from Iran.

Source: OFAC; Publication Date September 5, 2019 https://www.treasury.gov/resource-center/sanctions/OFAC-
Enforcement/Pages/20190905.aspx

FATF Issues Paper on Greece

The report summarizes and analyzes the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Greece’s
AML/CFT system, and it provides recommendations on how the system could be strengthened.

Source: FATF Publication Date September 4, 2019 http://www.fatf-gafi.org/media/fatf/documents/reports/mer4/MER-Greece-2019.pdf

FATF Issues Follow Up on Iceland MER

The report is a follow up on the 2018 report on the level of compliance with the FATF 40 Recommendations and the level of effectiveness of
Iceland’s AML/CFT system, and it provides recommendations on how the system could be strengthened.

Source: FATF Publication Date September 4, 2019 http://www.fatf-gafi.org/media/fatf/documents/reports/mer4/FUR-Iceland-2019.pdf

FATF Issues Paper on Hong Kong Measures

This report summarizes and analyzes the level of compliance with the FATF 40 Recommendations and the level of effectiveness of HKC’s AML/CFT
system, and provides recommendations on how the system could be strengthened.

Source: FATF Publication Date September 5, 2019 http://www.fatf-gafi.org/media/fatf/documents/reports/mer4/MER-Hong-Kong-China-2019-
Executive-Summary.pdf

OFAC Amends FAQ on Venezuelan Sanctions

The amended FAQ can be found at https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/faq_other.aspx#680.

Source: OFAC; Publication Date September 10, 2019

OFAC Amends Cuban Control Regulations
www.accumepartners.com
The amendments are effective October 9, 2019 and amends general license requirements and adds restrictions on family remittances. 14