Zenoo Compliance Brief
OFAC fines State Street $7.5m for Russian sanctions gaps
Plus, Applied Materials settles $252m BIS export case, OCC orders Clear Fork Bank compliance overhaul, and EU sanctions Russia-linked crypto platforms.
9 April 2026 · 4 min read
State Street's Russian sanctions failures have cost it $7.5 million after OFAC found gaps in screening procedures. The bank joins a growing roster of firms learning that inadequate sanctions controls carry real financial consequences. We've also tracked this week's hefty export enforcement settlement, a direct order from banking regulators on BSA/AML practices, and the EU's expanding sanctions net into crypto. Busy week in enforcement.
In today's brief
- 1 What gaps in State Street's Russia sanctions controls reveal about screening layer design
- 2 How did Applied Materials' export controls fail to catch shipments to Chinese manufacturers?
- 3 What does the OCC's Clear Fork enforcement action tell us about current BSA monitoring gaps?
- 4 How will compliance teams identify and block transactions to unregistered Russian crypto platforms?
Subscribe to keep reading.
This content is free, but you must be subscribed to the Zenoo Compliance Brief to continue reading.
Free · Curated by compliance practitioners · Zero spam
Already a subscriber?