Indictment of Lebanese Businessman, Tajideen, Points to Bold Methods of Sanctions Enforcement by DoJ and May Trigger Compliance Headaches for Banks

July 14, 2017
By Anna Sayre, Legal Content Writer, SanctionsAlert.com

On March 24, 2017, Kassim Tajideen, an international financier and businessman operating a network of businesses in Lebanon and Africa, was charged by the U.S. Department of Justice (DoJ) with evading sanctions by purposefully concealing his association with certain companies, the profits of which were used in part to support the Shiite militant movement Hezbollah. This terrorist group was also designated by the U.S. Department of State as a Foreign Terrorist Organization in 1997. Tajideen, who was extradited from Morocco to the U.S., pleaded not guilty to all 11 counts. (more…)

OFAC’s annual “Terrorist Assets Report” provides useful information regarding current U.S. sanctions

By: Anna Sayre, reporter SanctionsAlert.com 
Date: June 15, 2016

On June 6, 2016, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) released its 24th annual Terrorist Assets Report (TAR), an update to Congress detailing the amounts of assets in relation to international terrorist organizations or state sponsors of terrorism that have been frozen up until December 31, 2015. The TAR, which is prepared based on information from the Department of the Treasury and other governmental/non-government agencies, can also serve as a useful guide for compliance professionals in that it provides information regarding the nature and type of US terrorist sanctions regimes currently in place. (more…)