Zenoo Compliance Brief
State Street hit with $7.5m OFAC fine for Russian sanctions breaches
Plus, ACPR fines MoneyGram €1.3m for AML gaps, Trump targets Cuban regime officials with new sanctions, and EBA transfers AML mandate to AMLA.
4 February 2026 · 4 min read
State Street's $7.5m OFAC settlement this week is a reminder that sanctions violations still carry real teeth, even for institutions with enterprise compliance teams. The fine resolves breaches of Russian restrictions and lands as the US tightens screws elsewhere: Trump's new executive order just added Cuban regime figures to sanctions lists. Meanwhile in Europe, the EBA has formally handed its AML/CFT rulebook to the new AMLA, and France's ACPR showed MoneyGram the cost of KYC shortcuts with a €1.3m hit. Four enforcement stories in one week. Your board will want context on each.
In today's brief
- 1 State Street pays $7.5m for Russian sanctions breaches. What gaps did OFAC find in transaction screening?
- 2 France's banking regulator penalises MoneyGram for AML control failures. What payment firms need to fix now.
- 3 Trump's May 2026 Cuba sanctions order widens exposure for firms dealing with regime officials and their networks.
- 4 EU consolidates financial crime regulation under AMLA. What changes for banks operating across member states.
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