Camstoll in the News

Blacklisted Terrorism Financiers Still Active on Social Media

By Christopher S. Stewart and Rob Barry

…Though terrorist financiers may lose their bank accounts after being blacklisted by Treasury, “in many cases, they are still able to maintain and establish new social media accounts, often on the same social media platforms they used for their terrorist activities,” according to the report, by The Camstoll Group, a Los Angeles financial-intelligence firm.

The report, which is expected to be made public Monday, details cases of alleged financiers of terrorism who hold accounts on U.S.-based social-media platforms, including Twitter, Instagram and Facebook. The cases raise questions about Treasury’s ability to enforce its terror blacklist in the face of rapidly changing technologies.

“If they’re designated as financiers of terrorism, why should they be allowed to stay open on social media?” asked Matthew Epstein, Camstoll’s chief executive.

Read More

Who Dodged U.S. Sanctions in Panama

By Adam Chandler

…In a statement, the law firm claims it “never knowingly allowed the use of our companies by individuals having any relationship with North Korea, Zimbabwe, Syria and other countries that have been listed as sanctioned.”

Benjamin Schmidt, the managing director of the Camstoll Group, a sanctions and illicit-finance risk-advisory firm, said part of the problem with names on a sanctions list is they appear to exist in isolation.

“The leaked records out of Panama serve as a reminder that sanctioned actors are often supported by global networks and front companies,” Schmidt wrote in an email. “Banks, multinational companies, and NGOs need more information than simply names on a sanctions list to be sure they aren’t dealing with an entire web of bad actors.”

Read More