The Latvian security service, the VDD, and the Estonian Internal Security Service, have conducted joint raids in the two countries as part of ongoing criminal investigations.
The raids were on the premises of companies in Riga and Tallinn owned or controlled by designated persons under the EU sanctions.
It is reported that one of the companies raided was Baltic Media Alliance.
It has been reported that Metro Bank is being investigated in the UK for allegedly receiving funds from Iran in breach of EU sanctions.
The bank has also reported itself to the US authorities in relation to possible breaches of US sanctions against Cuba.
The Dutch National Bank has issued a public instruction to Corporate Trust Services BV in relation to its failed compliance with the due diligence and screening requirements of the Sanctiewet 1977.
No fine has been imposed.
The Estonian branch of Sputnik, controlled by Rossiya Segodnya which has a CEO under EU sanctions, has closed under threat of criminal prosecutions from the Estonian authorities. Staff members were told that continuing employment would amount to providing “economic resources” to a designated person in breach of EU sanctions.
The Latvian financial services regulator (the FKTK) has fined SEB Bank €1.8 million, of which €1,121,140 related to shortcomings in the bank’s sanctions compliance.
The inspections leading to the fine had taken place in 2017 and 2018.
The failings are said to have been specific to the EU’s Russian sanctions in regulation 269/2014 (as amended).
The fine was stated to be for not screening for companies and other assets owned by designated persons.
It has been reported today that the Latvian authorities have placed a block on the broadcasts of nine Russian television stations owned by a designated person under the EU’s sanctions.
The stations are owned by Yury Kovalchuk.
The Rotterdam District Court has convicted an individual for the financial transfer of €471 in breach of the EU’s sanctions against ISIS.
In light of other offences, the man was sentenced to 18 months in jail, with 6 months conditional and a probation period of 3 years.
The District Court of Rotterdam has imposed a two-month suspended sentence on an individual for the transfer of €200 to his brother.
The brother was fighting for ISIS in Syria and so the transfer was in breach of EU sanctions.
The Rotterdam District Court has heard an appeal against fines imposed by the Dutch National Bank on a trust office.
The fines were of €593,750 and €10,000.
Some aspects of the appeal were upheld and the fines were reduced, but the court agreed with the KYC failings (including related to sanctions screening) and imposed revised fines of €534,375 and €9,000.
OFSI has released its Annual Report for 2018-2019.
In it OFSI reports that it received 99 reports of suspected sanctions breaches with a value of £262 million.
