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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 targets Venezuela's gold mining company

On Tuesday, OFAC designated CVG Compania General de Mineria de Venezuela CA, or Minerven, the Venezuelan state-run ferrous metals mining company, and its President, Adrian Antonio Perdomo Mata, targeting the illicit gold operations that have continued to prop up the illegitimate regime of former President Nicolas Maduro. Tuesday’s action, taken under Executive Order 13850, targets an entity and an individual that operate in the gold sector of the Venezuelan economy.

As a result of Tuesday’s action, all property and interests in property of this entity and individual, and of any entities that are owned, directly or indirectly, 50 percent or more by this entity and individual, 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.

Identification information on Minerven and Perdomo Mata is available in our OFAC Update, which also includes OFAC's updates to, and several deletions from, the SDN List, all related to OFAC's Venezuela-related sanctions.

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