Latin America

 

treasury dept

News Brief

Freight forwarder fined $1.6M after using OFAC-blocked Venezuelan, Iranian carriers

2025-09-09T16:51:00+01:00By

A Houston-based freight forwarder, Fracht FWO Inc., will pay $1.6 million for violating U.S. sanctions tied to Venezuela and Iran, according to the Treasury Department’s Office of Foreign Assets Control (OFAC). The fine comes as OFAC ramps up enforcement in recent months.

Deloitte

News Brief

Former Deloitte partner dinged by PCAOB for failures in Bancolombia audit

2025-02-14T19:34:00+00:00By

A former Deloitte partner will pay $75,000 and be barred from working as a public company registered accountant for two years by the Public Company Accounting Oversight Board after violating audit standards during a 2016 audit.

Oilfield

Premium

DOJ commodities trader FCPA sweep offers lessons in cooperation

2024-04-02T13:33:00+01:00By

The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.

News Brief

FTC, Latin American countries partner on fighting cross-border fraud

2023-10-02T19:40:00+01:00By

The Federal Trade Commission is partnering with Chile, Colombia, Mexico, and Peru to fight cross-border fraud, with other consumer protection authorities invited to join in the future.

Bianca Forde EIC 2023

Article

Data-driven disruptor Bianca Forde hailed as Compliance Innovator

2023-05-15T16:00:00+01:00By

In just one year, Bianca Forde improved the ethics and compliance program at Otis Elevator Company through collaboration, innovation, and data-driven solutions. Her work earned her the nod as Compliance Innovator of the Year at the 2023 Excellence in Compliance Awards.

Poloniex

News Brief

Crypto exchange Poloniex to pay $7.6M in OFAC sanctions case

2023-05-02T16:15:00+01:00By

Cryptocurrency exchange Poloniex agreed to pay nearly $7.6 million as part of a settlement with the Office of Foreign Assets Control for engaging with more than 200 customers across a handful of sanctioned regions.

Bank AML

News Brief

Kingdom Trust fined $1.5M over ‘substantially inadequate’ AML controls

2023-04-26T18:53:00+01:00By

South Dakota-based Kingdom Trust Co. agreed to pay a $1.5 million fine to the Financial Crimes Enforcement Network for anti-money laundering deficiencies that resulted in violations of the Bank Secrecy Act.