The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss a couple of recent OFAC enforcement sanctions involving Harman International and Interactive Brokers and the lessons they provide for the compliance See more +
The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss a couple of recent OFAC enforcement sanctions involving Harman International and Interactive Brokers and the lessons they provide for the compliance professional.
Tom and Matt dive into the facts of both cases, finding under-resourced sanctions compliance programs in both companies, highlighting key issues such as inadequate personnel, misconfigured compliance tools, and failure to conduct proper risk assessments. Despite self-disclosure and cooperation, both companies faced significant fines and were required to implement extensive remediation measures. The discussion emphasizes the increasing importance of robust sanctions compliance programs in mitigating risks and avoiding enforcement actions.
Key Highlights:
• Sanctions Enforcement Cases Overview
• Harman International’s Compliance Failures
• Interactive Brokers’ Compliance Issues
• Lessons and Final Thoughts See less -