PayPal to Pay $7.7 Million for 486 Sanctions Violations
PayPal, an electronic payments company, this week reached a $7.7 million settlement with the Treasury Department’s Office of Foreign Assets Control for processing 486 transactions in violation of OFAC regulations governing sanctions programs. The civil penalties could have been significantly higher, had PayPal not self-reported the violations and cooperated with ...
Related articles
-
Blog
Study: Supplier Payment Processes Need Improving
A new study conducted by market research firm Gatepoint Research and sponsored by global payments solutions provider Tipalti finds significant weaknesses in the systems and processes companies use to mitigate regulatory, compliance, and fraud-related payment risks. According to the study, 66 percent of 100 senior finance and accounting executives polled ...
-
News BriefDOJ targets $14.6B in health care fraud with focus on transnational crime
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
-
News BriefDOGE targets SPAC oversight under SEC, report says
The Department of Government Efficiency (DOGE) has a new target, and this time it won’t be just firing federal workers. The agency formed by Tesla CEO Elon Musk at the start of the Trump administration wants to roll back more regulations.