By Aaron Nicodemus2024-05-02T15:06:00
Tucked deep inside the $95 billion foreign aid bill recently passed by Congress was a provision that escaped notice among talk of providing military assistance to U.S. allies Ukraine, Israel, and Taiwan.
The bill (H.R.815) included a change to U.S. sanctions law: Investigators from the Treasury Department’s Office of Foreign Assets Control (OFAC) can now look back 10 years to investigate potential violations of U.S. sanctions, rather than five years.
“It really is a big change that shows that Congress is focusing on the mechanics of sanctions, for better or worse,” said Laura Deegan, counsel at law firm Miller & Chevalier who was previously a sanctions regulations advisor in OFAC’s regulatory affairs division.
2024-06-12T02:35:00Z By Jeff Dale
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
2024-05-08T20:47:00Z By Jeff Dale
The Financial Crimes Enforcement Network advised financial institutions in detecting illicit transactions related to Iran-backed terrorist organizations.
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.
2025-08-01T22:31:00Z By Oscar Gonzalez
The Securities and Exchange Commission is taking its pro-crypto messaging on the road, planning a series of events for its Crypto Task Force that will be held across the U.S. starting on Aug. 4.
2025-08-01T20:07:00Z By Aly McDevitt
The DOJ is warning that simply scrubbing DEI-related words from policy documents or training materials—and replacing them with thinly veiled proxies—will not protect federally funded organizations from legal scrutiny.
2025-07-31T20:37:00Z By Neil Hodge
When growth slows, governments often cut rules to attract investment, as the U.K. has in its financial services sector, which contributes 8.8% of GDP, but easing the “compliance burden” raises concerns about oversight, governance, and prioritizing profits over safety.
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