President Barack Obama issued an Executive Order Friday lifting U.S. sanctions against Myanmar that had been in place for nearly 20 years.
Entries in Myanmar (9)
Federal and New York authorities said Wednesday that Deutsche Bank will pay $258 million and fire six senior employees to resolve investigations into thousands of illegal transactions with customers in Iran, Libya, Syria, Myanmar, and Sudan.
The U.S. Treasury Department's Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S. financial institutions. FinCEN directs counter-measures against the countries with the highest risk and enhanced due diligence against others.
Run-amok compliance officers cost Bank of Tokyo Mitsubishi $315 million for sanctions report whitewash
The New York State Department of Financial Services (DFS) Tuesday levied $315 million in penalties against Bank of Tokyo Mitsubishi UFJ (BTMU) for misleading regulators regarding its transactions with Iran, Sudan, Myanmar, and other sanctioned entities.
President Obama will be in Myanmar later this week for the East Asia Summit. A story Thursday by Jane Perlez of the New York Times reminded the president and the rest of the world about the plight of Myanmar's one million Rohingya people and their victimization by corrupt police and immigration officials.
The Financial Action Task Force (FATF) identified jurisdictions that have strategic deficiencies in their anti-money laundering and financing of terrorism controls in a public statement last Friday.
Myanmar's opposition leader Aung San Suu Kyi spent the past four days in Singapore, meeting leaders, visiting schools, and putting some distance between herself and the city-state's model of economic success.
As part of the reforms by President Thein Sein to open up Myanmar after decades of economic isolation, the parliament has approved a new foreign investment law.