- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-12-13T21:35:00
Virtual currency exchange CoinList Markets agreed to pay more than $1.2 million to settle allegations from the Treasury Department’s Office of Foreign Assets Control (OFAC) that it violated U.S. sanctions by processing transactions for customers located in the Crimea region of Ukraine.
San Francisco-based CoinList allowed 989 transactions on behalf of users in Crimea worth nearly $1.3 million on its platform between April 2020 and May 2022, according to OFAC’s enforcement release Wednesday. The transactions resulted in apparent violations of U.S. sanctions against Russia, which took control of Ukraine’s Crimea region in 2014.
CoinList had sanctions compliance controls in place that screened new and existing customers against sanctions lists. In February 2021, it added controls to deny access to customers with IP addresses in sanctioned jurisdictions.
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Swiss-based global private banking group EFG International agreed to pay more than $3.7 million as part of a settlement with the Office of Foreign Assets Control addressing apparent violations of U.S. sanctions against Cuba and two blocked individuals.
DaVinci Payments, a financial services firm which manages prepaid reward card programs, agreed to pay approximately $206,000 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctions violations across four countries.
Swedbank Latvia agreed to pay more than $3.4 million to resolve apparent U.S. sanctions violations in the Crimea region of Ukraine, the Office of Foreign Assets Control announced.
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
