- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-06-20T19:00:00
Swedbank Latvia agreed to pay more than $3.4 million to resolve apparent U.S. sanctions violations in the Crimea region of Ukraine, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced.
Swedbank announced the settlement Monday, which OFAC confirmed in a press release Tuesday. The bank self-disclosed the apparent violations in March 2020, though OFAC noted this was not voluntary. The agency concluded the violations were non-egregious, however, and levied a civil penalty in the case below the base applicable amount.
In March, Swedbank said it reserved 40 million Swedish krona (U.S. $3.7 million) for a settlement regarding the matter.
2024-03-04T11:28:00Z By Kyle Brasseur
The Estonian branch of Swedbank is no longer under investigation regarding suspected money laundering and other criminal activities.
2023-12-13T21:35:00Z By Aaron Nicodemus
Virtual currency exchange CoinList Markets agreed to pay more than $1.2 million to settle allegations from the Office of Foreign Assets Control that it violated U.S. sanctions by processing transactions for customers located in the Crimea region of Ukraine.
2023-11-06T20:25:00Z By Kyle Brasseur
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
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.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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