The Department of Justice has revised its policy regarding voluntary disclosures of export control and sanctions violations.
Sanctions
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.
Posted inSanctions
World Bank Group debars MTZ Equipment for fraud
The World Bank has imposed a 30-month debarment on Canada-based MTZ Equipment for fraudulent practices connected to Afghanistan’s On-Farm Water Management Project.
Posted inSanctions
USTR will soon accept tariff exclusion requests
The Office of the U.S. Trade Representative will begin accepting tariff exclusion requests on Oct. 31 for Chinese imports subject to an additional 15 percent tariff that took effect Sept. 1.
Posted inFinancial Services
What banking CCOs need to know about new terrorist funding order
Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.
Posted inAccounting & Auditing
PCAOB sanctions Marcum over auditor independence issues
The PCAOB has settled disciplinary actions with audit firm Marcum, an affiliated firm, and its former auditor independence leader over independence violations.
