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Pascrell chooses not to draw distinctions between the different parts of Renaissance Group, believing they are intertwined and thereby complicit in possibly flouting sanctions in Zimbabwe.
The Swiss revelations came on top of a $1.9bn£1.3bnbn) fine imposed on HSBC in the US for flouting sanctions and allowing its Mexican arm to launder money for drug gangs.
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If the Iraqis decide to flout sanctions, the "oil for food" plan under which Iraq is permitted to sell limited amounts of oil to pay for civilian goods and services could be the first victim.
That followed a U.N. report in February that said North Korea was relying on continued access to the international banking system to flout sanctions imposed in relation to its nuclear program.
The U.N. report stopped short of claiming definitive proof of current collaboration between North Korea and Syria on chemical arms, but it represented the most exhaustive accounting to date of efforts by the two governments to evade and flout sanctions meant to halt such cooperation.
Already compliance departments are urging extreme caution on their moneymakers, fearful of incurring the huge penalties that come with flouting American sanctions policies.
In 2012 it was hit by a $1.9bn fine (then £1.2bn) for flouting US sanctions and failing to stop Mexican drug lords in their money-laundering operations.
That was in stark contrast to its behaviour during the Bosnian war, when Greek Cyprus was notorious for flouting UN sanctions and serving as a conduit for money and aid to Serbia.
If Asma al-Assad still possesses a UK passport – she lived in the country until she was 25 and it is not known whether she has renounced citizenship – she could still travel to Britain, albeit at possible risk of arrest for flouting previous sanctions as an EU national.
It's hard to image a successful path around the seven-year ban on the sale of U.S. products to the company imposed after it reportedly failed to sufficiently reprimand staff for flouting Iranian sanctions.
For the time being, no Arab country is likely to do what Iraq wants, and openly flout sanctions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com