Search

Editors

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 Office of Foreign Assets Control (27)

Friday
Feb012019

Cosmetics company violated OFAC’s North Korea sanctions

Image courtesy of ELFThe Treasury Department's Office of Foreign Assets Control fined a California-based cosmetics company nearly $1 million for importing fake eyelash kits that contained materials from North Korea.

Click to read more ...

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.

Click to read more ...

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.

Click to read more ...

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.

Click to read more ...

Tuesday
Aug222017

OFAC adds Singapore companies, others to North Korea sanctions list

The U.S. Treasury Department's Office of Foreign Assets Control Tuesday put more entities and individuals from China, Russia, Singapore and Namibia on the North Korea sanctions list.

Click to read more ...

Tuesday
Aug012017

Compliance Alert: Lessons from OFAC’s recent enforcement action against non-U.S. companies

Last week the U.S. Treasury Department’s Office of Foreign Assets Control announced a $12 million settlement with CSE Global Limited and its subsidiary, CSE TransTel Pte. Ltd., both based in Singapore.

Click to read more ...

Wednesday
Mar082017

ZTE Corporation pays $892 million for Iran, North Korea sanctions violations

China's ZTE Corporation agreed Tuesday with the DOJ and two other agencies to pay $892 million for knowingly shipping dual-use telecoms equipment to Iran for six years and lying to cover up the trade offenses.

Click to read more ...

Monday
Nov212016

Event: OFAC Fall Symposium (Washington, DC - December 7)

The 2016 OFAC Fall Symposium will provide a comprehensive review of current U.S. economic sanctions.

Click to read more ...

Monday
Nov142016

National Oilwell Varco pays $25 million for violating Iran, Cuba, Sudan sanctions

Houston-based driller National Oilwell Varco, Inc. reached a settlement with the DOJ, the Commerce Department, the Treasury Department's Office of Foreign Assets Control, and U.S. Immigration and Customs Enforcement for trade sanction violations reaching back to 2002.

Click to read more ...

Monday
Oct102016

President Obama ends Burma sanctions

President Barack Obama issued an Executive Order Friday lifting U.S. sanctions against Myanmar that had been in place for nearly 20 years.

Click to read more ...

Wednesday
Sep142016

PanAm Seed settles Iran sanctions offenses for $4.3 million

The Treasury Department's Office of Foreign Assets Control said Tuesday PanAmerican Seed Co. paid $4.32 million to settle potential civil liability for Iran sanctions violations.

Click to read more ...

Wednesday
Mar232016

AML Alert: New York rule would require certification by compliance chiefs, impose criminal liability

In an effort to stop terrorism financing at its source, the New York Department of Financial Services proposed new requirements for economic sanctions and anti-money laundering programs maintained by financial firms.  

Click to read more ...