Chinese government efforts to obscure which firms have public links to the country’s military are making due diligence more complicated, but compliance officers can use several strategies to overcome those challenges, said Colby Potter, a former intelligence official with the State Department.
The University of Kentucky this week launched a new site to provide export control and sanctions guidance to students, researchers and other members of the school, warning that there are “severe consequences to noncompliance,” including fines and possible prison time. The site covers the basics of export controls, including which countries are subject to embargoes; research guidance; information on international shipping, travel and collaboration; compliance training; a set of FAQs; and more.
The Financial Crimes Enforcement Network issued an alert Oct. 23 to help financial institutions uncover illegal activity by Hezbollah, a U.S.-designated foreign terrorist organization based in Lebanon.
An indictment was unsealed on Oct. 22 charging Iran Revolutionary Guard Corps brigadier general Ruhollah Bazghandi and members of his network with sanctions evasion, among other charges, in their efforts to murder a U.S. citizen of Iranian origin in New York City, DOJ announced.
The Pentagon removed China-based Hesai Technology from its list of Chinese companies that it said have ties to that country’s military but immediately relisted the firm, according to a pair of Federal Register notices published this week.
The Office of Foreign Assets Control on Oct. 23 removed Ukrainian citizen Olena Yurevna Semenova from its Specially Designated Nationals List. Semenova was designated in 2015 as part of an effort to counter Russia-related sanctions evasion. The agency didn’t provide more information, and a Treasury Department spokesperson didn’t respond to a request for comment.
Taiwan Semiconductor Manufacturing Company recently spoke with Commerce Department about a possible export control issue involving one of its advanced chips, a company spokepserson said. TSMC "proactively communicated with the US Commerce Department regarding the matter," the person said Oct. 23. "We are not aware of TSMC being the subject of any investigation at this time."
The Biden administration believes it has struck the right balance in managing technology trade with competitors such as China, White House National Security Adviser Jake Sullivan said Oct. 23.
Lorena Valente, former sanctions compliance section chief at the Office of Foreign Assets Control, was named the agency’s new assistant director for licensing, she announced on LinkedIn. Valente has been at the Treasury Department since 2022.
Chinese national Lin Chen pleaded guilty last week for his role in a conspiracy to illegally export controlled U.S. technology to Chinese end users, including for a company on the Commerce Department’s Entity List (see 2404260019). As part of a plea agreement, Chen pleaded guilty to causing an unlawful export in violation of the International Emergency Economic Powers Act. His sentencing hearing is scheduled for Jan. 28, when he faces a maximum statutory penalty of up to 20 years in prison and a $1 million fine.