Two recent OFAC enforcement actions highlight real-world challenges that financial institutions and other companies may face in their efforts to implement an effective sanctions compliance program....more
On May 27, OFAC announced a civil settlement with a Puerto Rico-based bank in connection with apparent violations of the Venezuela Sanctions Regulations. While the settlement amount of $255,938 is a fraction of the...more
Increased defense spending and assistance to the Ukrainian government in Kyiv grabbed many of the headlines regarding President Biden’s fiscal year 2023 budget. However, funding requests for key functions within the...more
4/1/2022
/ Anti-Money Laundering ,
Defense Sector ,
Economic Sanctions ,
Enforcement Actions ,
Federal Budget ,
FinCEN ,
Foreign Policy ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Ukraine