Print PDF

Tricky tracery – sanctions

Paul Cochrane
Money Laundering Bulletin
February 19, 2024

Carol Van Cleef was quoted in Money Laundering Bulletin on the dynamic compliance frontline of sanctions enforcement.

"The crypto space is the focus of a disproportionate amount of attention as crypto-related cases are often easier to work and prove (by prosecutors) than 'old fashioned' sanctions or AML cases," said Van Cleef. "At the same time, the crypto space is in many ways setting a new bar for sanctions compliance with new and powerful tools, and this will put more pressure on the traditional banking industry to up its compliance efforts."

"There are a lot of new resources on the table and the DOJ has made a very significant commitment to pursue sanctions law violations, in addition to OFAC, which has its own enforcement section. If OFAC finds cases it is reviewing to be really egregious they may be referred to the DOJ," said Van Cleef.

Click here to read the full article on (subscription may be required).