Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
OFAC sanctions Iranian organizations and individuals
On Wednesday, the Department of the Treasury announced that OFAC has designated an Iran-based entity that organizes international conferences that supported the Islamic Revolutionary Guard Corps-Qods Force’s (IRGC-QF’s) efforts to recruit and collect intelligence from foreign attendees, including U.S. persons, and four associated individuals. OFAC also designated a separate Iran-based entity and six associated individuals involved in the targeting of current and former U.S. government and military personnel as part of a malicious cyber campaign to gain access to and implant malware on their computer systems.
As a result of today’s action, all property and interests in property of these individuals and entities that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. OFAC’s regulations generally prohibit all dealings by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked or designated persons. In addition, persons that engage in certain transactions with the individuals and entities designated today may themselves be exposed to designation.
For identifying information on the targeted individuals and entities, see our OFAC Update.