A recent Webinar, and complementary report, from NAVEX Global offers a look at the top 10 risk and compliance trends for 2020.
Sanctions
Posted inRegulatory Enforcement
Will ExxonMobil’s victory in sanctions case mean more pushback?
ExxonMobil’s victory in a sanctions case before a federal court just might empower others in the regulated community to challenge the imposition of fines for alleged violations of sanctions regulations.
Posted inRegulatory Enforcement
OFAC designates new sanctions against Iran’s metals industry
Sanctions compliance officers should be on alert following several new sanctions designated by the Office of Foreign Assets Control against Iran’s largest steel, aluminum, copper, and iron manufacturers.
Posted inRegulatory Enforcement
Exxon wins legal battle with OFAC over sanctions violation
A federal judge ruled this week Exxon will not have to pay a $2 million civil penalty levied by OFAC in 2017 for violating Ukraine-related sanctions regulations.
Posted inRegulatory Enforcement
DOJ revises export control and sanctions enforcement policy
The Department of Justice has revised its policy regarding voluntary disclosures of export control and sanctions violations.
Posted inEthics & Culture
Lesson from sports world: Regulator’s light touch sends bad compliance message
One of sports’ key enforcement agencies handed out a penalty this week that sent a message no regulator wants to send: Punitive action may only come after the guilty party has already reaped the rewards.
Posted inSanctions
Treasury sanctions 18 individuals connected to human rights abuse
The Office of Foreign Assets Control has added 18 individuals across six geographies to its Specially Designated Nationals list for their roles in serious human rights abuse. Six entities have also been added to the list.
Posted inEurope
Study: Spike in OFAC sanctions pose compliance challenges
Some companies might scramble to comply with more—and sometimes quickly shifting—sanctions requirements as the U.S. government chalks up record enforcement levels.
Posted inRegulatory Enforcement
OFAC: Apple shows ‘reckless disregard’ for sanctions in ‘non-egregious’ violation
The Treasury Department’s Office of Foreign Assets Control had harsh words for Apple’s sanctions compliance program in announcing a not-so-hefty $466,912 settlement with the technology giant.
Posted inSanctions
Reports: Huawei dangles incentives to overcome U.S. sanctions
Chinese telecommunications giant Huawei is reportedly offering cash rewards to employees aiding its struggle against significant U.S. sanctions.
