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Entries in Sudan (29)

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
May042015

BNP trampled compliance officers, pays record $9 billion penalties for sanction offenses

Paris-based BNP Paribas S.A. was sentenced Friday for processing billions of dollars of transactions through the U.S. financial system on behalf of Sudanese, Iranian and Cuban entities subject to U.S. economic sanctions. 

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Friday
Mar272015

OFAC fines PayPal $7.7 million for 486 sanctions violations

PayPal will pay $7.7 million to settle charges by the U.S. Treasury Department's Office of Foreign Assets Control that it violated trade sanctions against Iran, Sudan, and Cuba.

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Thursday
Mar262015

Schlumberger unit pays record $232 million penalties for Iran and Sudan sanctions violations

Image courtesy of SchlumbergerThe DOJ and Commerce Department said Wednesday a unit of Paris-based Schlumberger Ltd. has agreed to plead guilty and pay a $232.7 million penalty for conspiracy to violate trade sanctions with Iran and Sudan.

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Thursday
Mar122015

Compliance fiasco: Commerzbank pays $1.45 billion for AML, sanctions, and fraud-related offenses

Commerzbank AG agreed to pay $1.45 billion for doing business with Iran and other sanctioned countries and its failure to have adequate money laundering controls, the DOJ and New York financial regulator said Thursday.

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Wednesday
Feb112015

Compliance officers take note: White House affirms anti-graft priorities

President Barack Obama issued a National Security Strategy Friday, the first one since 2010 and only the second from his administration.

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Monday
Feb092015

Judge rejects Fokker's ‘anemic’ $21 million sanctions penalty

A federal judge Thursday refused to approve a settlement of sanctions violations by a subsidiary of Dutch aerospace firm Fokker Technologies Holding.

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Wednesday
Dec102014

The University of Richmond Annual Corruption Issue, Part III: Toward Pre-Approved Compliance Programs?

The University of Richmond’s Journal of Global Law & Business is proud to announce its annual Corruption Issue. In this series of posts, each co-authored by a UR law student and Professor Andy Spalding, we’ll introduce this year’s articles and invite submissions for next year’s issue.

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Monday
Dec082014

‘Merchant of Death’ co-conspirator jailed five years

Richard Ammer Chichakli, an associate of convicted international arms dealer Viktor Bout, was sentenced Thursday in Manhattan federal court to five years in prison.

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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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