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Treasury Targets Facilitators for Procuring Sensitive Navigational Systems for Iran 12/18/2024 U.S. Department of the Treasury Office of Public Affairs   Press Release:             FOR IMMEDIATE RELEASE December 18, 2024   Contact:                      Treasury Public Affairs; Press@Treasury.gov              Treasury Targets Facilitators for Procuring Sensitive Navigational Systems for Iran WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning two entities and two individuals for their role in developing and procuring components for sensitive navigational systems for the Iranian military. The Islamic Revolutionary Guard Corps Aerospace Force Self-Sufficiency Jihad Organization (IRGC ASF SSJO) and other Iranian organizations rely on these strategic components that are necessary for the production and proliferation of unmanned aerial vehicles (UAVs) and missiles. Concurrent with this action, the U.S. Department of State is designating one individual and two entities involved in Iranian UAV and missile development. Treasury’s action was taken in coordination with the Department of Commerce and the Department of Justice, the latter of which charged and helped coordinate the arrest of one of the individuals OFAC is sanctioning today. “Iran continues to try to acquire these critical components covertly to facilitate the production of its ballistic missile and UAV weapon systems,” said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith. “The United States will continue to disrupt Iran’s attempts to provide its deadly weapons to Russia, its terrorist proxies, and other destabilizing actors around the globe.” Today’s action was taken pursuant to Executive Order (E.O.) 13382, which targets proliferators of weapons of mass destruction (WMD) and their means of delivery. The Department of State designated the IRGC ASF SSJO pursuant to E.O. 13382 on July 18, 2017 for engaging, or attempting to engage, in activities or transactions that have materially contributed to, or pose a risk of materially contributing to, the proliferation of weapons of mass destruction or their means of delivery. UAV NAVIGATIONAL SYSTEM PROCUREMENT Iran-based Sanat Danesh Rahpuyan Aflak Company Ltd (SDRA or SADRA) consults, designs, manufactures, and supplies navigation, automation, and instrumentation systems, including those for use in cruise and ballistic missiles, UAVs, unmanned underwater vehicles, and unmanned surface vessels. One of SDRA’s primary systems is the SEPEHR navigation system that is equipped with a tactical MEMS (micro-electromechanical systems) sensor, global positioning system, and an inertial measurement unit, which makes the SEPEHR appropriate for aircraft and UAVs. From 2022 to 2023, SDRA sold over one thousand SEPEHR navigational systems to the IRGC ASF SSJO, which constituted a significant portion of SDRA’s net income for the time period. The IRGC ASF SSJO is involved in Iranian ballistic missile research and development and manages Iran’s production of Shahed-series UAVs. SDRA is being designated pursuant to E.O. 13382 for having provided, or attempted to provide, financial, material, technological or other support for, or goods or services in support of, the IRGC ASF SSJO, a person whose property and interests in property are blocked pursuant to E.O. 13382. Iran-based Mohammed Abedininajafabadi (Abedininajafabadi) is the Chief Executive Officer, member of the board of directors, and minority shareholder of SDRA. Iran-based Kaveh Merat (Merat) is the Chief Technology Officer, chairman of the board of directors, and minority shareholder of SDRA. Abedininajafabadi and Merat are being designated pursuant to E.O. 13382 for acting or purporting to act for or on behalf of, directly or indirectly, SDRA, a person whose property and interests in property are blocked pursuant to E.O. 13382. Abedininajafabadi is the sole member of the board of directors and Chief Executive Officer of the Switzerland-based Illumove SA, a company whose sole purpose is to represent SDRA’s interests abroad, including its procurement of Western electronics and other technology. Illumove SA is being designated pursuant to E.O. 13382 for being owned or controlled by, or acting or purporting to act for or on behalf of, directly or indirectly, Abedininajafabadi, a person whose property and interests in property are blocked pursuant to E.O. 13382. SANCTIONS IMPLICATIONS As a result of today’s action, all property and interests in property of the designated persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons. In addition, financial institutions and other persons that engage in certain transactions or activities with the sanctioned entities and individuals may expose themselves to sanctions or be subject to an enforcement action. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated person, or the receipt of any contribution or provision of funds, goods, or services from any such person. The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, please refer to OFAC’s Frequently Asked Question 897 here. For detailed information on the process to submit a request for removal from an OFAC sanctions list, please click here. Click here for more information on the individuals and entities designated today. ### Questions? Contact Us

Securities and Exchange Commission

Global Aerospace Company AAR and Former Executive of its Subsidiary Settle Charges for Bribing Nepalese and South African Officials 12/19/2024 02:52 PM EST The Securities and Exchange Commission today announced that Illinois-based AAR CORP., a global provider of aviation services and products, agreed to resolve Foreign Corrupt Practices Act (FCPA) charges in connection with two bribery schemes. AAR agreed…

 

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JOINT PRESS RELEASE | DECEMBER 19, 2024 Federal Deposit Insurance Corporation Federal Reserve Board Agencies Release Annual Asset-Size Thresholds  Under Community Reinvestment Act Regulations The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2025 updated Community Reinvestment Act (CRA) “small bank” and “intermediate small bank” asset-size thresholds. The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations.  Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification.  The asset-size thresholds are adjusted annually based on the average change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a measure of inflation. As a result of the 2.91 percent increase in the CPI-W for the period ending in November 2024, the CRA asset-size thresholds for small banks and intermediate small banks are: A small bank is an institution that, as of December 31 of either of the prior two calendar years, had assets of less than $1.609 billion. An intermediate small bank is a small institution with assets of at least $402 million as of December 31 of both of the prior two calendar years and less than $1.609 billion as of December 31 of either of the prior two calendar years. These thresholds are in effect from January 1, 2025, through December 31, 2025.  A list of the current and historical asset-size thresholds is available here.    ### FDIC Carroll Kim (202) 898-7389 FRB Chelsea Grate (202) 452-2955 ATTACHMENT: Federal Register Notice The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe. STAY CONNECTED

Questions for FDIC? Contact Us   Look who's covered: the amended TSR and tech support scams By Karen S. Hobbs Tech support scams can happen to anyone: small business owners, your employees, and family members — especially those over 60, according to reports to the FTC. These scams usually happen when someone searches online, clicks a promising link, and suddenly gets frightening pop-up alerts warning that their computer is infected with malware. The alerts say to call a number to fix it immediately — and that’s when a so-called “tech support professional” demands payment. Thanks to recently-announced final amendments, tech support scams using telemarketing calls like these are now covered by the FTC’s Telemarketing Sales Rule (TSR). Read more > New York Tax Preparer Pleads Guilty to Filing Tens of Thousands of False Tax Returns Depriving the IRS of More Than $100 Million in Tax Revenue   Over a ten-year period from 2010 to 2020, a New York tax preparer submitted tens of thousands tax returns with false information to reduce his customers' tax liabilities and increase their refunds. The tax returns included - among other things - bogus deductions, fraudulent tax credits, and phony business expenses. The tax preparer's practice of making these items appear on a return to reduce tax liabilities became so prevalent he was known as "the Magician" to his customers. Read the Department of Justice's press release for more information about the work we did with the IRS and the FBI on this case.   And here's a quick refresher on what we do investigate - and what we don't - when it comes to tax preparers. We generally don't investigate tax practitioners who prepare fraudulent tax returns. IRS's Criminal Investigation function handles those cases and we help them depending on the circumstances of the case.  But we do investigate tax preparer misconduct. For example, you can use our hotline if a tax preparer: Stole a portion of your tax refund. Stole and/or misused your identity. Disclosed your tax return to an unauthorized person. Falsified their qualifications.    Submit a tip Having trouble viewing this email? View it as a Web page.  Treasury Inspector General for Tax Administration     Stay Connected 901 D Street, SW, Suite 600 Washington, D.C. 20024-2169 Check out gift cards before you buy them By Andrew Rayo Doing some holiday shopping? Here’s a type of gift card scam to look out for: scammers can get the gift card number and PIN before you buy the card. So if gift cards are on your holiday shopping list, keep reading. Read more > U.S. EQUAL EMPLOYMENT OPPORTUNITY COMMISSION FOR IMMEDIATE RELEASE Dec. 19, 2024 EEOC Highlights How Wearable Technologies May Implicate Employment Discrimination Laws   WASHINGTON – A new fact sheet titled “Wearables in the Workplace: The Use of Wearables and Other Monitoring Technology Under Federal Employment Discrimination Laws,” released today by the U.S. Equal Employment Opportunity Commission (EEOC) addresses use of wearable technologies in the nation’s workplaces. These technologies can be used to track various physical factors, such as an employee’s location, heart rate, electrical brain activity, or fatigue. The new fact sheet reminds employers that employment discrimination laws apply to the collection and use of information from wearables. It also addresses the need for employers to provide reasonable accommodations related to wearables. Employer-mandated wearables, such as watches, rings, glasses, or helmets which collect information about a worker’s health and biometric data may be conducting a “medical examination” as defined by the Americans with Disabilities Act (ADA). If the wearables require employees to provide health information (including in the setting up of the device), the employer may be making “disability-related inquiries.” The ADA limits the use of medical examinations or disability-related inquiries by employers and also requires employers to safeguard medical records. “With the increasing availability of wearable technologies, some employers may be considering implementing them in their workplaces. It’s important that employer keep in mind that some uses of wearables can violate federal antidiscrimination laws,” said EEOC Chair Charlotte A. Burrows. “If they do choose to bring this technology into the workplace, employers must be vigilant in following the law to ensure that they do not create a new form of discrimination. There is no high-tech exemption to the nation’s civil rights laws.” In addition, an employer’s improper use of information that wearables collect may raise concerns under other federal anti-discrimination laws. Employers should be careful about using data collected by wearable devices to determine sex, age, genetic information, disability, or race to take an adverse action against an employee. The new resource provides a number of examples to avoid. Lastly the new document reminds readers that employers using wearables may need to provide reasonable accommodations for workers under the Pregnant Workers Fairness Act, or as a religious or disability accommodation. For more information on the EEOC’s initiative on artificial intelligence and algorithmic fairness visit the EEOC’s website at https://www.eeoc.gov/ai. The EEOC advances opportunity in the workplace by enforcing federal laws prohibiting employment discrimination. More information is available at www.eeoc.gov. Stay connected with the latest EEOC news by subscribing to our email updates. ### Contact: Office of Communications & Legislative Affairs 131 M Street, N.E. Washington, D.C. 20507 newsroom@eeoc.gov ASL videophone 844-234-5122   U.S. Equal Employment Opportunity Commission 131 M St. NE, Washington, D.C.  20507 www.eeoc.gov | info@eeoc.gov 800-669-4000 | 844-234-5122 (ASL Videophone)