Zenoo Compliance Brief
Applied Materials hit with $252m BIS penalty for China exports
Plus, AML fraud spending hits $206 billion globally, State Street fined $7.5m for Russian sanctions breaches, and healthcare fraudster Anzivino faces charges over $6m Medicare scheme.
18 February 2026 · 5 min read
Applied Materials' $252 million settlement with the Commerce Department marks the second-largest BIS penalty on record, underscoring how seriously U.S. export controls on semiconductor kit are being enforced. The Korean subsidiary's involvement signals regulators are watching supply chain compliance across borders. Separately, we're tracking a spike in reported AML fraud losses, fresh OFAC enforcement against a major custodian bank, and a Medicare indictment that highlights healthcare's ongoing vulnerability to organised fraud schemes.
In today's brief
- 1 How did Applied Materials export restricted chip gear to China without proper licensing?
- 2 Banks spent $206bn on compliance last year. Why are alert backlogs still costing billions in penalties?
- 3 Did State Street's information services bypass OFAC list checks entirely, or was screening simply inadequate?
- 4 How did a straw-owned medical supply company move $6m in fraudulent Medicare claims undetected?
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