Latest U.S. Department of the Treasury News

White House promises 'major sanctions' on Russia in response to Alexei Navalny's death

Feb. 20, 2024 15:20 PM EST

WASHINGTON (AP) — The White House said Tuesday it is preparing additional “major sanctions” on Russia in response to opposition leader Alexei Navalny's death last week in an Arctic penal colony. National Security Adviser Jake Sullivan said the sanctions, on the eve of the...

Guatemalan accused of importing fentanyl precursors for Mexican cartel arrested

Feb. 19, 2024 12:38 PM EST

TAPACHULA, Mexico (AP) — Mexican authorities have detained a Guatemalan man wanted by the United States for allegedly participating in the importation of precursor chemicals used by the Sinaloa cartel to make fentanyl, officials said Monday. Immigration authorities stopped Jason...

Treasury promoting new rules to stop money laundering ahead of Europe meetings

Feb. 15, 2024 10:02 AM EST

WASHINGTON (AP) — The Biden administration is stepping up efforts to stop dirty money from flowing through the U.S. financial system with a slew of new rules aimed at increasing corporate transparency and regulating occupations that are exploited for money laundering. As the...

U.S. sanctions Iran Central Bank subsidiary for U.S. tech procurement and violating export rules

Feb. 14, 2024 15:19 PM EST

WASHINGTON (AP) — The U.S. on Wednesday imposed sanctions on three people and four firms — across Iran, the United Arab Emirates and Turkey — for allegedly helping to export goods and technology purchased from U.S. companies to Iran and the nation's central bank. Treasury’s...

Treasury proposes new anti-money laundering regulations for investment advisers

Feb. 13, 2024 09:03 AM EST

WASHINGTON (AP) — The Biden administration is rolling out new recordkeeping rules for U.S. investment advisers in its continued effort to clamp down on money laundering, illicit finance and fraud in the American financial system. The Treasury Department's Financial Crimes...

Wealth disparities by race grew during the pandemic, despite income gains, report shows

Feb. 10, 2024 10:09 AM EST

NEW YORK (AP) — A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released this week show. According to a report from the New York Federal Reserve...

Treasury rolls out residential real estate transparency rules to combat money laundering

Feb. 07, 2024 17:11 PM EST

WASHINGTON (AP) — The Biden administration wants to make residential real estate transactions more transparent by unmasking the owners of certain all-cash purchases. It's part of an ongoing effort to combat money laundering and the movement of dirty money through the American financial system. ...

China, US hold economic talks as trade issues heat up on the campaign trail

Feb. 07, 2024 04:19 AM EST

BANGKOK (AP) — Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies, as trade and tariffs increasingly draw attention in the runup to the U.S. presidential election. China’s Ministry of Finance said Beijing raised objections...

Live updates | South Africa alleges Israel is ignoring court ruling as more are killed in north Gaza

Jan. 31, 2024 23:49 PM EST

South Africa’s foreign minister alleged Israel is ignoring the ruling by the United Nations’ top court last week, which ordered Israel to do all it can to prevent death, by killing hundreds more civilians in a matter of days in Gaza. Gaza’s Health Ministry says more than 150...

US imposes sanctions on three Sudanese companies tied to the warring parties

Jan. 31, 2024 13:41 PM EST

CAIRO (AP) — The United States imposed sanctions Wednesday on three Sudanese firms it accused of being directly connected to the warring forces in Sudan, as the devastating conflict in the northeast African country continues to rage. The army, headed by Gen. Abdel-Fattah Burhan,...