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Harry Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Richard L. Cassin Editor at Large

Elizabeth K. Spahn Editor Emeritus 

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


FCPA Blog Daily News

Entries in OFAC (43)

Friday
Jun282019

Two plead guilty to FCPA offenses for bribing former Venezuela electricity minister

Luis Motta Domínguez, Venezuela’s former minister of electricityTwo businessmen pleaded guilty in federal court in Miami to bribing a former Venezuela government minister and another official at the state-owned electric utility in exchange for $60 million in contracts for their Florida-based businesses.

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Monday
Jun242019

Practice Alert: New OFAC Compliance Guidelines collide with EU Blocking Regulation

In the context of the Trump Administration’s “maximal pressure” approach to the U.S. sanctions against Iran, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued on May 3, 2019 its Framework for OFAC Compliance Commitments or OFAC Guidelines.

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Tuesday
Apr092019

Standard Chartered Bank pays $657 million to settle OFAC violations

Standard Chartered Bank agreed Tuesday to pay $657 million to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to resolve sanctions violations primarily related to Iran, with other violations involving current or former sanctions on Cuba, Sudan, Burma, Syria, and Zimbabwe.

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Thursday
Nov152018

OFAC adds 17 Saudis to Magnitsky sanctions list

Murdered Saudi journalist Jamal KhashoggiThe U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three Saudi officials and 14 members of a hit team for their role in murdering Washington Post contributing columnist Jamal Khashoggi.

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Tuesday
Jun192018

Due diligence on the oligarchs: Predicting OFAC’s next move

Oleg DeripaskaWith the proliferation of OFAC designations of Russian businesspeople, trying to predict whether or not someone will be designated as a Specially Designated National (SDN) has become an important part of third party due diligence on Russian business partners. 

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Tuesday
Jun122018

Selva Ozelli: How should cyptocurrency bribes be valued?

At the federal level in the United States, cryptocurrencies have a lot of regulators -- FinCEN, OFAC,  the IRS, the Commodity Futures Trading Commission (CFTC), and the SEC among them. 

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Thursday
May242018

Lindsay Columbo: U.S.-EU dispute over Iran sanctions traps companies in legal abyss

The White House announced on May 8 that the United States would pull out of the Joint Comprehensive Plan of Action (JCPOA) and reinstate sanctions on Iran to address that country's nuclear program.

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Tuesday
May012018

Lindsay Columbo: What fuzzy logic can (and can't) do for due diligence

In 2015 OFAC penalized the National Bank of Pakistan for apparent violations of U.S. sanctions programs resulting from a software failure. According to OFAC, the bank’s New York branch processed wire transfers after its sanction screening tool failed to detect the name of the account -- LC Air company Kyrgyztransavia -- as belonging to Kyrgyz Trans Avia, a blocked entity.

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Thursday
Mar152018

Washington sanctions Russians for election meddling, cyberattacks

The Trump administration Thursday sanctioned five entities and 19 individuals for meddling in the 2016 U.S. presidential elections and for cyberattacks.

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Thursday
Dec212017

OFAC adds five to Magnitsky sanctions list

The Treasury Department's Office of Foreign Assets Control added four Russians and a Chechen to its list of those sanctioned under the Magnitsky Act for alleged human rights abuses.

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Friday
Oct062017

OFAC fines paper company for illegal exports from Canada

The Treasury Department's Office of Foreign Assets Control fined a Connecticut-based company Thursday for exporting paper from Canada to Sudan.

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Tuesday
Sep262017

OFAC fines Cartier parent company under drug kingpin sanctions

The Treasury Department's Office of Foreign Assets Control penalized Richemont North America, Inc., the owner of the Cartier luxury brand, for shipping jewelry to a Hong Kong company that OFAC had blocked.

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