- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-08-17T20:11:00
A New Jersey-based wholesale building materials company agreed to pay more than $660,000 as part of a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) addressing three apparent sanctions violations in Iran.
Construction Specialties (CS) has 10 offices in the United States and 25 foreign affiliates, including Construction Specialties Middle East (CSME) located in the United Arab Emirates. CSME knowingly violated sanctions when it imported building materials from the United States, then reexported them to Iran, according to OFAC.
The penalty reflects the agency’s determination CSME’s apparent violations were egregious and voluntarily self-disclosed, OFAC said in its enforcement release Wednesday.
2023-09-22T18:34:00Z By Jeff Dale
The Office of Foreign Assets Control ordered multinational conglomerate 3M to pay more than $9.6 million over apparent Iran sanctions violations by its subsidiary and a U.S. employee of a separate subsidiary.
2023-09-22T16:01:00Z By Kyle Brasseur
New York-based Emigrant Bank agreed to pay nearly $32,000 as part of a settlement with the Office of Foreign Assets Control addressing apparent sanctions violations regarding an account it maintained for a pair of Iranian residents.
2023-09-08T17:55:00Z By Kyle Brasseur
Empire Navigation pleaded guilty to violating the International Emergency Economic Powers Act by carrying nearly 1 million barrels of Iranian oil from the sanctioned Islamic Revolutionary Guard Corps to another country.
2025-06-12T15:51:00Z By Neil Hodge
Europe’s pioneering data protection legislation turned seven years old in May, but the compliance and enforcement difficulties that have dogged the rules since they came into force look set to present both companies and data regulators with fresh headaches for some time to come.
2025-06-11T15:12:00Z By Adrianne Appel
The Department of Justice has charged the founder of cryptocurrency company Evita with 22 violations for allegedly laundering more than $500 million through U.S. banks and cryptocurrency exchanges, on behalf of sanctioned Russian entities.
2025-06-07T01:41:00Z By Oscar Gonzalez
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.
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