On November 9, 2021, Mashreqbank entered into joint settlements with the Office of Foreign Assets Control (OFAC), the Federal Reserve Bank (FRB), and the New York State Department of Financial Services (DFS).  Mashreqbank agreed to pay $100 million in penalties pursuant to a Consent Order with the DFS.  It agreed to make significant changes in its compliance functions.  The wrongdoing arose from illegal and non-transparent payments related to Sudan that Mashreqbank processed through financial institutions in New York State, including Mashreqbank’s own New York Branch, between 2005 and 2014.

Israeli technology firm, NSO Group, faces an uncertain future after the U.S. Department of Commerce blacklisted the firm on November 3, 2021, causing CEO-designate Isaac Benbenisti to quit and financial confidence in the company to plummet.^[1]  The blacklisting comes after mounting concerns over NSO Group’s Pegasus, a spyware purportedly used to maliciously target journalists, activists, and politicians around the world.

On November 9, 2021, the United States Attorney for the Eastern District of Arkansas announced that Andrew Scott Pierson, 47, of Jay, Oklahoma, has pleaded guilty to his role in a conspiracy, resulting in the trafficking of firearms to Mexican cartels as part of “operation Thor’s Hammer,” an effort to disrupt cartels’ access to firearms. U.S. District Judge Brian S. Miller, who presided over the plea, will sentence Pierson at a later date.  Acting U.S. Attorney Jonathan D. Ross said, “(t)his case is the first successful prosecution in the country of the exportation and manufacturing of Mexican cartel firearms.”[1]

On November 8, 2021, United States law enforcement officials announced the arrest on November 3 of Herdade Lokua, 23, and Jospin Mujangi, of Kinshasa, Democratic Republic of Congo (DRC).  The arrest occurred in Edmonds, Washington, a bedroom community of Seattle.  A federal grand jury indicted them for conspiracy, money laundering, and smuggling and Lacey Act violations for trafficking elephant ivory and white rhinoceros horn from DRC to Seattle.[1]

On November 8, 2021, the Justice Department announced law enforcement actions against two foreign nationals charged with using Sodinokibi/REvil ransomware to attack businesses and government entities in the United States.[1]  Also, on November 8, Europol announced Romanian authorities arrested two individuals suspected of cyber-attacks using the Sodinokibi/REvil ransomware.[2]

On July 27, 2021, the Federal Public Service Finance of Belgium (FPSF Belgium) brought seven lawsuits in the United States District Court for the Southern District of New York against pension plans, a trust, FGC Securities and FGC Holdings, Delaware limited liability companies, and individuals living in the United States who are allegedly associated with the pension plans.[1]  This article discusses, in particular, the suit against Lion Advisory Inc. Pension Plan, although the suits are almost identical in terms of the fact patterns and legal theories.   Significantly, like the cases brought by the Danish Tax Authority, this case is brought in the Southern District of New York with hopes that it will overcome the common law revenue rule, which has prevented foreign tax authorities from directly litigating in the U.S.

On November 5, 2021, the International Criminal Court Prosecutor, Karim A.A. Khan Q.C., announced his office has decided to start an investigation into the situation in Venezuela.  His announcement followed a visit between October 31, 2021 to November 3, 2021, to Venezuela and the signing of a Memorandum of Understanding with the Government of Venezuela with respect to the investigation.[1]

On October 20, 2021, the Spanish Supreme Court ruled that Hugo Carvajal Barrios, the former head of intelligence in Venezuela, should be extradited to the United States.[1]  However, on October 29, the same court suspended his extradition.

On October 26, 2021, agencies in the U.S. and European Union (EU) announced the seizure of cash, virtual currencies, and goods, in addition to the arrests of 150 alleged suspects, in a follow-up operation to the earlier takedown of dark web network DarkMarket.^[1]  The operation, entitled Operation DarkHunTOR, came from a series of coordinated actions from government and law enforcement agencies in Australia, Bulgaria, France, Germany, Italy, the Netherlands, Switzerland, the U.K., and the U.S.^[2]  The operation was carried out in the framework of the EU’s security initiative EMPACT, the European Multidisciplinary Platform Against Criminal Threats.^[3]

On October 21, 2021, the members of the European Parliament approved a resolution on the Pandora Papers: implications for the efforts to combat money laundering, tax evasion and tax avoidance, recommending new enforcement and prevention measures.[1]