Sanctions Intelligence Update – Yemen: Assessing Risk to the Financial System

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The Houthi group and forces aligned with Yemen’s ex-President Ali Abdullah Saleh have exercised control over several Yemeni financial institutions, including the Central Bank, since seizing Yemen’s capital city of Sanaa in late 2014. During the same period, Al Qaida’s local affiliate “AQAP” also expanded its presence in Yemen, increasing the group’s exploitation of the Yemeni financial system to raise and move funds.

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Use of Social Media by Terrorist Fundraisers & Financiers

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Financiers and fundraisers for al-Qaida and Islamic State (ISIS) are active users of popular social media platforms, such as Facebook, Twitter, YouTube and Instagram, in some cases even after being placed on a United Nations or US government sanctions list. Terrorist financiers and fundraisers have utilized social media to attract and direct funding to procure weapons, pay salaries, strengthen infrastructure and operate civil and social services…

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Crimea: Sanctions Risk Considerations

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On December 22, 2015, the US Treasury Department designated three Russian banks and one Crimea-based bank for operating in Crimea. The three designated Russian banks are Genbank, Krasnodar Regional Investment Bank, and Bank Verkhnevolzhsky. The Crimea-based bank is Sevastopolsky Morskoy Bank.

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Crimea: Sanctions Risk Considerations

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On July 30, 2015, The US Treasury Department’s Office of Foreign Assets Control (OFAC) issued an advisory highlighting practices used to circumvent or evade US sanctions involving Crimea. The guidance follows a near comprehensive trade embargo imposed by the US and EU on Crimea in December 2014.

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Commercial Operations in Turkey: Assessing Exposure to Islamic State, Al Qaida, and Other Armed Groups In Iraq and Syria

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A review of Islamic State and al Qaida-related activity in Iraq and Syria provides insights on cities, banks, and business sectors in Turkey at greater risk of exposure to illicit commercial and financial transactions. Islamic State and other armed groups that control or profit from oil fields and oil trade in Syria and Iraq generate revenue from sales to Turkey-based consumers and middlemen, according to government and media reports. Turkey has also been identified as a transit point for foreign fighters and as a fundraising hub for relief operations that have been associated with al Qaida.

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