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.
2025-09-15T16:47:00Z By Ruth Prickett
You can already buy a coffee with your phone, but soon you could start a job or buy a house with it. Digital compliance wallets holding certificates and documents on smartphones are gaining traction worldwide.
2025-09-10T23:26:00Z By Ruth Prickett
Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
2025-09-08T05:00:00Z By Oscar Gonzalez
The FTC officially withdrew its appeal in a federal court case over its ban on employer noncompete clauses that it passed last year. The agency, however, says it wants public input regarding the effects of employer noncompete agreements.
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