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 Supra29d
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 Designates Gazprombank for Inclusion on SDN List
OFAC’s alert warned foreign financial institutions that joining SPFS may result in their designation under E.O. 14024 for operating within the Russian Federation’s financial services sector.