Entries by Lauren Jack

Are Casinos Havens for Money Laundering?

A recent UN Office on Drugs and Crime (UNODC) report has found that casinos, junkets, and cryptocurrencies are exacerbating transnational organized criminal activity in East and Southeast Asia as part of the region’s underground banking and money laundering infrastructure. Although the use of casinos to launder money is not new, the proliferation of online gambling since the COVID 19 pandemic has aggravated the existing problem and has given rise to underregulated online gambling venues as more gamblers began playing from home.

Binging Griselda? Let’s Talk Drug Trafficking Sanctions

Netflix’s new series Griselda tells the story of Griselda Blanco. Known as the “Godmother of Cocaine,” Blanco trafficked cocaine from Colombia to Miami from the 1970s to the early 2000s. Despite her criminal activities, Blanco managed to evade law enforcement for many years. There were no sanctions against Blanco at the time, since the Kingpin Act, a U.S. law aimed at combating international drug trafficking and organized crime, was enacted in 1999 after Blanco’s sentencing.  

Risky Russia – Government Agencies Warn Businesses of Possible Trouble

The US Departments of State, Treasury, Commerce, and Labor in late February issued a business advisory warning firms and financial institutions about the serious legal, financial, and reputational risks of doing business in Russia. According to the State Department’s assessment, Russia’s kleptocratic environment undermines fair competition and the rule of law, exposing businesses to the risk of extortion, appropriation of assets, and US law enforcement action.

Thanks to Russia, Cross-Border Sanctions Collaboration at All-Time High

Russia’s unprovoked invasion and continued aggression in Ukraine has led to an unprecedented level of collaboration by sanctions stakeholders across jurisdictions, agencies, and sectors. IFI is publishing a series of blogs to highlight this increased collaboration. In this first blog, we take a look at cooperation across borders and most notably by the REPO Task Force and Price Cap Coalition.

Ukraine’s War on Two Fronts – Fighting Corruption Amidst Russia’s Continued Attacks

As the second anniversary of Russia’s full-scale war of aggression in Ukraine approaches, winning on the battlefield remains the top mission objective for the Armed Forces of Ukraine, the Ukrainian people, and Ukraine’s international partners. While the full-scale invasion began two years ago, addressing systemic governmental and economic corruption has been an enduring battle for Ukraine since it gained its independence from the Soviet Union in 1991.

Exhausting Russian Resources by Sanctioning Western Software

Despite the Kremlin’s attempts to reduce reliance on Western software for crucial systems, this transition is advancing slowly, presenting significant opportunities to hinder Russia’s military effectiveness and economic activities. Read on for more information on the current role of Western technology and guidance for governments and companies formulating sanctions proposals.

Evading Export Controls – Russia’s Key to Success

Russia has used third-party intermediaries to evade sanctions and export controls for years and has disguised the involvement of SDNs or sanctioned entities in transactions to obscure the true identities of end users. This activity has increased since Russia’s invasion of Ukraine in 2022 due to Russia’s need for military equipment.