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Richard L. Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Harry Cassin Managing Editor


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

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FCPA Blog Daily News

Entries in OFAC (39)

Thursday
Aug132015

Resource alert: OFAC 2015 fall symposium (September 22)

The 2015 OFAC Fall Symposium will be held in Washington, DC on September 22, 2015.

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Wednesday
Jul152015

Sanctions compliance: OFAC statement about the Iran action plan

Image courtesy of the White House via YouTubeStatement Relating to the July 14, 2015 Announcement of a Joint Comprehensive Plan of Action Regarding the Islamic Republic of Iran’s Nuclear Program:

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Monday
May112015

Compliance alert: OFAC issues report on blocked terrorist assets

Last week OFAC -- the Office of Foreign Assets Control -- issued its 23rd report to congress detailing blocked assets in the U.S. belonging to terrorist organizations and state sponsors of terrorism.

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Monday
Apr132015

Resource alert: The 2015 OFAC Spring Symposium (May 11)

The U.S. Treasury Department's Office of Foreign Assets Control will be hosting the 2015 Spring Symposium to take place at the Walter E. Washington Convention Center in Washington, DC on Monday, May 11, 2015.

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Tuesday
Dec302014

OFAC adds four to Magnitsky sanctions list

The Treasury Department's Office of Foreign Assets Control (OFAC) added four individuals to the list of  Russians subject to travel bans and asset freezes under the Magnitsky Act. Two of the Russians named Monday hold top posts in Russia-controlled Chechnya.

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Tuesday
Nov182014

Run-amok compliance officers cost Bank of Tokyo Mitsubishi $315 million for sanctions report whitewash

The New York State Department of Financial Services (DFS) Tuesday levied $315 million in penalties against Bank of Tokyo Mitsubishi UFJ (BTMU) for misleading regulators regarding its transactions with Iran, Sudan, Myanmar, and other sanctioned entities.

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Wednesday
Oct222014

Sanctions compliance: The new FCPA?

In recent months, the U.S. Treasury Department's sanctions enforcement unit, the Office of Foreign Assets Control (OFAC), has made it clear that sanctions compliance will continue to be a global issue. Particular transactions will be scrutinized, making it important for financial institutions that do business internationally to manage their risks appropriately. 

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Wednesday
Sep242014

Under U.S. sanctions, iPhones and Facebook are OK for Iran. But no sales agents

The United States government has imposed tough long-term trade sanctions on Iran because of its nuclear program. But our policy makers want Iranian citizens to have access to the Internet, mobile phones, chat services, and other social media. That, after all, is how news spreads and change happens.

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Tuesday
Sep162014

Russia sanctions update: Treasury targets financial, energy, and defense sectors

The Treasury Department’s Office of Foreign Assets Control (OFAC) issued Directives 1 through 4 on September 12 pursuant to Executive Order 13662 (March 20, 2014), “Blocking Property of Additional Persons Contributing to the Situation in Ukraine.”

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Friday
Jul252014

Bank of America pays $16.6 million for violating drug trafficker sanctions

Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed hundreds of transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said Thursday.

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Friday
May162014

U.S. Treasury targets money-laundering network with Kingpin Act

The U.S. Treasury named eight individuals and 20 entities Thursday connected to Jorge Fadlallah Cheaitelly as designated narcotics traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act).

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Tuesday
Apr222014

Travel services company fined $6 million for illegal Cuba trade

The U.S. Treasury Department announced its settlement with the Dutch company CWT B.V., fining it nearly $6 million for apparent violations of U.S. trade sanctions against Cuba.

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