In The Finance Ministry said that the sanctioned Russians tried to hide their names and assets and thus circumvent the restrictions by using shell companies and real estate transactions. The authorities intend to eliminate loopholes
US Treasury Secretary Janet Yellen
The US Treasury Department has unveiled a national strategy for 2022 to combat money laundering, including through real estate transactions, and the financing of terrorism by eliminating gaps in legislation.
The Agency gives an example of illegal actions— attempts
the sanctioned Russians hide their names, as well as bank accounts, securities, real estate, gold and other assets and thus circumvent restrictive measures.
The authorities intend to make efforts to eliminate loopholes, which were used, among others, by Russian oligarchs, and which allowed the abuse of anonymous access to the US financial system. In particular, shell companies and real estate transactions for cash were used to conceal assets. The Ministry of Finance will continue to identify assets of sanctioned Russians hidden in the United States.
Earlier, US Treasury Secretary Janet Yellen did not rule out that Russia may try to evade restrictions with the help of cryptocurrencies.
In mid-March, the US Treasury offered monetary rewards to those who provide information that will help arrest or confiscate assets associated with corrupt foreign governments, including the Russian one. We are talking about a fee of up to $ 5 million. The official representative of the Russian Ministry of Foreign Affairs, Maria Zakharova, called this proposal “a program to support whistleblowing and snitching.”
A month later, Europol launched Operation Oscar to search for Russian assets falling under EU sanctions.
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