WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting three entities and one individual for their involvement in the development and production of Russia’s Garpiya series long-range attack unmanned aerial vehicle (UAV). The Garpiya has been deployed by Russia in its brutal war against Ukraine, destroying critical […]
Category Archives: U.S. Treasury
Treasury Sanctions Network for Shipping Oil on Behalf of Iran-Backed Houthi Financier
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned eighteen companies, individuals, and vessels for their ties to Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF)-backed Houthi financial official Sa’id al-Jamal (al-Jamal) and his network. Included in this action are the captains of vessels transporting illicit oil as well as the […]
Treasury Announces Enhanced Fraud Detection Processes, Including Machine Learning AI, Prevented and Recovered Over $4 Billion in Fiscal Year 2024
Treasury’s Office of Payment Integrity Began Using Enhanced Processes, including Machine Learning AI, to Deal with Increased Fraud and Improper Payments Since the Pandemic WASHINGTON – Today, the U.S. Department of the Treasury announced that its latest efforts in taking a technology and data-driven approach to fraud and improper payment prevention enabled the prevention and […]
READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on How Financial Institutions Can Support Tribal Nations in Accessing Capital
WASHINGTON – This week, the U.S. Department of the Treasury (Treasury) hosted a roundtable with stakeholders from across the Tribal finance ecosystem – including Tribal government representatives, financial technology firms, consumer advocacy groups, government agencies, and financial institutions – to discuss how financial institutions, including depository and non-depository institutions, can better serve Tribal communities. At […]
Remarks by Secretary of the Treasury Janet L. Yellen at the Council on Foreign Relations
As Prepared for Delivery Thank you. Before our discussion, I’d like to speak to the Biden-Harris Administration’s international economic policy, which we’ll continue to move forward next week at the IMF and World Bank Annual Meetings. Our international economic policy has many objectives, including addressing critical challenges facing the entire globe. But I’d like to […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Travel to the United Kingdom
LONDON – From October 13 to October 15, Deputy Secretary of the Treasury Wally Adeyemo visited London, the United Kingdom, this week to meet with government and private sector counterparts. During engagements, including with Chancellor Rachel Reeves, National Security Advisor Tim Barrow, Bank of England Governor Andrew Bailey, Minister of State Stephen Doughty, and Director […]
Treasury Targets Hizballah Finance Network and Syrian Captagon Trafficking
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating three individuals and four associated companies involved in a Lebanon-based sanctions evasion network that generates millions of dollars in revenue for Hizballah. Hizballah’s finance team is responsible for the establishment and operation of Hizballah commercial projects throughout Lebanon, […]
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Milton
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the Florida Office of Financial Regulation, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of Hurricane Milton on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to […]
United States and Canada Target Key International Fundraiser for Foreign Terrorist Organization PFLP
WASHINGTON — Today, in a joint action with Canada, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the Samidoun Palestinian Prisoner Solidarity Network, or “Samidoun,” a sham charity that serves as an international fundraiser for the Popular Front for the Liberation of Palestine (PFLP) terrorist organization. The PFLP, which was […]
Remarks by Deputy Secretary of the Treasury Wally Adeyemo on Inflation Reduction Act Technical Assistance
As Prepared for Delivery Good morning and thanks for having me. As you all know, the Inflation Reduction Act marks a generational investment in clean energy and our economy. It opens the door to a historic opportunity, but we know we can only take advantage of this opportunity if we implement the law effectively and […]