- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-12-22T15:10:00
Insurance organization Privilege Underwriters Reciprocal Exchange (PURE Insurance) agreed to pay $466,200 as part of a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
New York-based PURE Insurance was found to have engaged in 39 transactions totaling $315,891 with Vekselberg from after he was designated in April 2018 until July 2020, according to OFAC’s enforcement release published Thursday.
The apparent violations were not voluntarily self-disclosed and deemed by OFAC to be non-egregious.
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2024-05-02T15:06:00Z By Aaron Nicodemus
Tucked deep inside the $95 billion foreign aid bill recently passed by Congress was a provision that will allow the Office of Foreign Assets Control to look back 10 years to investigate potential violations of U.S. sanctions, rather than five years.
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A subsidiary of Thailand-based SCG Chemicals Co. agreed to pay a $20 million fine to the Office of Foreign Assets Control over “egregious” violations of sanctions against Iran.
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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.
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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