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 designates Russian NBFI supporter of North Korea
Treasury has announced OFAC's designation of a Russian financial institution for assisting North Korea in evading sanctions to access the international financial system. Wednesday's action targets Russian-registered Russian Financial Society for having provided, or attempted to provide, financial, material, technological, or other support for, or goods or services in support of, U.S.-designated Dandong Zhongsheng Industry & Trade Co. Ltd, an entity that is owned and controlled by, directly or indirectly, U.S.- and UN-designated Foreign Trade Bank, North Korea’s primary foreign exchange bank.
Additional identification information for Russian Financial Society can be found in BankersOnline's OFAC Update.