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.
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.
2024-04-22T16:49:00Z By Aaron Nicodemus
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.
2024-03-14T21:46:00Z By Aaron Nicodemus
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.
2025-10-16T20:38:00Z By Neil Hodge
Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
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