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Treasury Sanctions Corrupt Nicaraguan Officials and Actors

Washington D.C. - The United States Treasury Department has imposed sanctions on several high-ranking officials and actors in Nicaragua’s government and financial sector who have been involved in widespread corruption and money laundering.

Sanctioned Individuals

According to a statement released by the Treasury Department, the sanctioned individuals include:

  • [List names] who have been accused of embezzling public funds, engaging in bribery and other corrupt practices, and using their positions to further their own financial interests at the expense of the Nicaraguan people.

Sanctions

The sanctions were imposed under the Global Magnitsky Human Rights Accountability Act and freeze any assets held by these individuals in the United States. Additionally, American citizens are prohibited from doing business with them.

“This action sends a strong message that corruption will not be tolerated,” said [Name], Under Secretary for Terrorism and Financial Intelligence. “We will continue to work tirelessly to root out corrupt actors who undermine democracy and stability around the world.”

Designation as Specially Designated Nationals (SDNs)

The Treasury Department’s Office of Foreign Assets Control (OFAC) has designated these individuals as SDNs, which means that any transactions with them are subject to severe penalties, including fines and imprisonment.

Advisory from Financial Crimes Enforcement Network (FinCEN)

In addition to the sanctions, FinCEN issued an advisory warning financial institutions to be on high alert for suspicious activity that may be linked to these individuals or entities. The advisory advises financial institutions to report any suspicious transactions to FinCEN immediately.

“We urge financial institutions to take this opportunity to review their anti-money laundering programs and ensure they are equipped to detect and report suspicious activity,” said [Name], Director of FinCEN. “SAR reporting has been crucial in identifying money laundering and other financial crimes associated with foreign and domestic political corruption.”

Broader Effort

The Treasury Department’s action is part of a broader effort to combat corruption and promote transparency and accountability in Nicaragua. The United States has long been a strong advocate for democratic governance, human rights, and the rule of law in Nicaragua.

What You Need to Know:

  • The US Treasury Department has sanctioned several high-ranking officials and actors in Nicaragua’s government and financial sector for corruption and money laundering.
  • The sanctions freeze any assets held by these individuals in the United States and prohibit American citizens from doing business with them.
  • FinCEN issued an advisory warning financial institutions to be on high alert for suspicious activity that may be linked to these individuals or entities.
  • Financial institutions are advised to report any suspicious transactions to FinCEN immediately.

Contact Information:

For questions or comments regarding the contents of this article, please contact the Treasury Department’s Regulatory Support Section at frc@fincen.gov.

To report suspicious transactions that may potentially relate to terrorist activity, call the Financial Institutions Toll-Free Hotline at (866) 556-3974 (7 days a week, 24 hours a day).