A Clear-Cut Way to Reduce Potential Financial and Criminal Penalties
Tae Young Bae, ACSS Reporter
January 15, 2022
Enforcement
The Collecting and the Spending of Sanctions Fines
David Williams, Editor, ACSS
December 4, 2021
Mexico-Based Network Used by Venezuela for Sanctions Evasion
Alejandro Leáñez, ACSS
May 9, 2021
OFAC $5M Fine Against JPMC Partially Due To Failure in Properly Screening Clients’ Pooling Accounts
OFAC $5M Fine Against JPMC Partially Due To Failure in Properly Screening Clients’ Pooling Accounts
October 29, 2018 By: Scott Nance* In order to optimize interest and improve liquidity for their clients, financial institutions frequently maintain so-called ‘pooling accounts’, in which funds from many different accounts are combined. Funds in...
OFAC’s $1.5M Epsilon Fine Provides Four Vital Lessons to U.S. Exporters to Iran
OFAC’s $1.5M Epsilon Fine Provides Four Vital Lessons to U.S. Exporters to Iran
October 3, 2018 By: SanctionsAlert.com On September 13, 2018, Epsilon Electronics Inc, a car audio and video equipment manufacturer, agreed to pay the U.S. Treasury’s Office of Foreign Assets Control (OFAC) $1,500,000 to settle a case related to...
Wake Up To Sanctions
Wake Up To Sanctions
SanctionsAlert.com Summer Sanctions Round Up September 5, 2018 U.S. Cracks Down on Russia with Global Magnitsky Regulations and New Sanctions As of June 29,2018, the Global Magnitsky Sanctions Regulations (31 CFR part 583) took effect on the...
Bank of China Order Confirms U.S. Regulators Are Willing to Take a Tough Line On Sanctions Missteps
Bank of China Order Confirms U.S. Regulators Are Willing to Take a Tough Line On Sanctions Missteps
August 16, 2018 By: Anna Sayre, Legal Content Writer, SanctionsAlert.com After conducting a supervisory examination of its compliance program, the Office of the Comptroller of the Currency (OCC) has issued a $12.5 million fine and a Consent...
‘Sanctions Busting’: The Risks and Rewards to those Trying to Circumvent the System
‘Sanctions Busting’: The Risks and Rewards to those Trying to Circumvent the System
June 15, 2018 By: Keith Preble and Dr. Bryan R. Early* The main goal of imposing sanctions on a target country or entity has always been to disrupt the target’s commercial relationships and make it costlier for them to do business. Governments...
OFAC Enforcement Actions By the Numbers: What Makes a Penalty?
OFAC Enforcement Actions By the Numbers: What Makes a Penalty?
Cuba, Iran, Sudan Top the List of OFAC Actions; Recent Trend Suggests Voluntary Disclosure Could Mitigate Penalty Amount November 7, 2017 By Anna Sayre, SanctionsAlert.com The dread of an OFAC penalty is something that no institution or company...
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