- 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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