The U.K.'s National Crime Agency said billion-dollar money laundering networks working out of the U.K. bought a bank in Kyrgyzstan to evade sanctions against Russia.
The U.S., Canada, Australia, New Zealand, the U.K. and the Netherlands issued a joint alert this month about the risks stemming from bulletproof hosting (BPH) providers, which are internet infrastructure providers that market and lease their infrastructure to cybercriminals, including those subject to sanctions.
Export Compliance Daily is providing readers with the top stories from last week, in case you missed them. You can find any article by searching for the title or clicking on the hyperlinked reference number.
The Bureau of Industry and Security needs more resources to address the surge in export license applications that’s expected if its new 50% rule comes back into effect with no changes, industry groups said, adding that otherwise, the agency risks severely delaying or pausing large volumes of trade.
The High Court of Singapore will consider whether an arbitral award can be enforced in Singapore in light of U.S. sanctions on the party slated to receive the award. Earlier this month, Judge Thomas Bathurst declined to first and separately consider whether the enforcement of the award is contrary to Singapore's public policy due to the sanctions, opting instead to consider that question along with the other elements of the arbitral dispute.
The U.K. on Nov. 24 amended one entry under its cyber sanctions list. The Office of Financial Sanctions Implementation updated the entry for Andrei Kozlov, an employee of sanctioned entity Media Land, to add his date of birth, place of birth and nationality. Kozlov is now listed as a Russian national.
The Office of Foreign Assets Control on Nov. 24 updated its sanctions entry for Venezuela-based Cartel de los Soles to reflect the group's recent designation by the State Department as a Foreign Terrorist Organization (see 2511210003). OFAC sanctioned the group in July (see 2507270002).
Sen. Rick Scott, R-Fla., and Senate Banking Committee ranking member Elizabeth Warren, D-Mass., introduced a bill last week that would require the Bureau of Industry and Security to conduct a competitive market review of applications to export items to entities on the agency’s Entity List.
The U.S. launched a new export licensing platform that allows users to track the progress of applications submitted to both the State and Commerce departments, which it said will “simplify export control processes, enhance compliance, and provide centralized resources for industry users.”
The Trump administration is weighing the pros and cons of lifting export restrictions on shipments of Nvidia’s H200 AI chips to China, Commerce Secretary Howard Lutnick said Nov. 24.