FinCEN, the financial crime-fighting unit of the US Treasury Department, has issued a warning to all financial institutions to be wary of Russians trying to evade sanctions.
FinCEN, March 7 on to US financial institutions He warned that the Russians should beware of attempts to avoid possible sanctions. In the warning, as a result of the sanctions imposed by the USA on Russia after the invasion of Ukraine, the target that the Russians may try to avoid sanctions said FinCEN, in these activities convertible virtual currencies (CVC) He stated that various methods could be used, including
Warn all financial institutions to be careful FinCEN it also made “red alert” recommendations that it said would help identify sanctions avoidance activities, including the use of front companies.
FinCEN Acting Director Him Das in his statement;
In the face of escalating economic sanctions on Russia, it is vital that US financial institutions remain vigilant in their attempts to avoid possible sanctions from all Russians, both state actors and oligarchs.
made statements.
ransomware attacks FinCEN, which also warns against financial institutions regarding attempts to avoid possible sanctions. to quickly report suspicious activities and to identify customers based on risk called.
das furthermore, “While we have not seen widespread use of crypto to evade our sanctions, prompt reporting of suspicious activity contributes to our national security and our efforts to support the Ukrainian people.” made statements.