World Finance8d
Sanctions: the financial front line
As geopolitical tensions surge, financial institutions find themselves grappling with an increasingly intricate web of ...
Regtechtimes on MSN6mon
State Street Bank Settles $7.45 Million Penalty Over OFAC Sanctions Violations
regulatory bodies like OFAC are placing greater emphasis on ensuring that financial institutions uphold sanctions laws. This ...
Hosted on MSN2mon
OFAC’s $14.5M Blow to Aiotec for U.S. Sanctions Violation
The alleged wrongdoing didn’t end there—payments related to the sale were reportedly routed through U.S. financial institutions, further deepening the violation. OFAC claims that Aiotec’s ...
JD Supra1mon
OFAC Closes Out Year with String of Enforcement Actions — Aiotec Pays OFAC $14.55 Million to Resolve Iran Sanctions Violations
and remit payments for the polypropylene plant through U.S. financial institutions. Aiotec did not voluntarily disclose the violation to OFAC and was an egregious case. In or around 2015 ...
JD Supra1mon
OFAC's Latest General Licenses and FAQs Related to Russian Sanctions
OFAC amended GL 1A to GL 1B ... Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions) or Directive 4 of EO 14024 (Prohibitions Related to Transactions ...