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Legal News

OFAC imposes sanctions on parties involved in money laundering network

Published on: 10 December 2024
Published by LNB News

LNB News 10/12/2024

Document Information

Issue Date: 10 December 2024

Published Date: 10 December 2024

Jurisdiction(s): World

Article summary

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on 28 individuals and businesses involved in a Zimbabwe-based global gold smuggling and money laundering network. The action, taken on International Anti-Corruption Day, targets the network led by Kamlesh Pattni under Executive Order 13818. The sanctions, coordinated with the FBI and UK Government, are part of broader 2024 anti-corruption efforts, including over 100 designations and new AML/CFT rules. The measures require the blocking of all US-based property and interests of designated persons, prohibiting US persons from dealing with them.

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