Disclosure Cuts Fine for Firm Using Bank and Dollar

Disclosure Cuts Fine for Firm Using Bank and Dollar

By David Williams, ACSS Editor April 30, 2022 An Australian company’s settlement with the Office of Foreign Assets Control (OFAC) for more than $6 million is instructive for non-US companies of the financial risks they run in using US banks and currency to settle...
How a General License Saved Chelsea Football Club

How a General License Saved Chelsea Football Club

By David Williams, ACSS Editor April 16, 2022 The temperature for a mid-April evening in Madrid was on the cool side – about nine degrees Celsius (48 F). Inside the venerable Bernabéu stadium, home of the celebrated Real Madrid football club, it was much warmer. Blood...
Mistaken Identity from a Sanctions List Can Cost Millions

Mistaken Identity from a Sanctions List Can Cost Millions

By David Williams, ACSS Editor April 9, 2022 The owner of a catering company in Verona, Italy made a routine trip to his bank one morning only to discover that his checking account had been blocked and that he had been sanctioned by the United States. Alessandro...