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.
2025-10-08T20:08:00Z By Ruth Prickett
Private companies that are keen to trade their shares but do not wish to become listed have gained another way to trade their shares. The U.K. government completed its initial review and published rules for the system in June.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
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