All Sanctions articles – Page 13
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ArticlePark Strategies execs draw ire of OFAC in settlement
Park Strategies will pay a relatively tame $12,150 to settle apparent OFAC violations, though the behavior of the lobbying firm’s executives was listed as an aggravating factor in the case.
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ArticleNAVEX Global: Top 10 compliance trends for 2020
A recent Webinar, and complementary report, from NAVEX Global offers a look at the top 10 risk and compliance trends for 2020.
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ArticleWill ExxonMobil’s victory in sanctions case mean more pushback?
ExxonMobil’s victory in a sanctions case before a federal court just might empower others in the regulated community to challenge the imposition of fines for alleged violations of sanctions regulations.
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ArticleOFAC designates new sanctions against Iran’s metals industry
Sanctions compliance officers should be on alert following several new sanctions designated by the Office of Foreign Assets Control against Iran’s largest steel, aluminum, copper, and iron manufacturers.
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ArticleExxon wins legal battle with OFAC over sanctions violation
A federal judge ruled this week Exxon will not have to pay a $2 million civil penalty levied by OFAC in 2017 for violating Ukraine-related sanctions regulations.
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Article
DOJ revises export control and sanctions enforcement policy
The Department of Justice has revised its policy regarding voluntary disclosures of export control and sanctions violations.
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ArticleWADA mess: Sports regulator’s light touch sends bad compliance message
One of sports’ key enforcement agencies handed out a penalty this week that sent a message no regulator wants to send: Punitive action may only come after the guilty party has already reaped the rewards.
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ArticleTreasury sanctions 18 individuals connected to human rights abuse
The Office of Foreign Assets Control has added 18 individuals across six geographies to its Specially Designated Nationals list for their roles in serious human rights abuse. Six entities have also been added to the list.
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ArticleStudy: Spike in OFAC sanctions pose compliance challenges
Some companies might scramble to comply with more—and sometimes quickly shifting—sanctions requirements as the U.S. government chalks up record enforcement levels.
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ArticleOFAC: Apple shows ‘reckless disregard’ for sanctions in ‘non-egregious’ violation
The Treasury Department’s Office of Foreign Assets Control had harsh words for Apple’s sanctions compliance program in announcing a not-so-hefty $466,912 settlement with the technology giant.
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Article
Reports: Huawei dangles incentives to overcome U.S. sanctions
Chinese telecommunications giant Huawei is reportedly offering cash rewards to employees aiding its struggle against significant U.S. sanctions.
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Resourcee-Book: Navigating the Hazardous World of Global Sanctions
The world of global sanctions compliance is only growing more complex, not simpler. This can’t-miss e-Book, produced by Compliance Week in collaboration with Refinitiv, will help compliance officers and corporate counsel navigate through these legal and regulatory complexities.
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Article
World Bank Group debars MTZ Equipment for fraud
The World Bank has imposed a 30-month debarment on Canada-based MTZ Equipment for fraudulent practices connected to Afghanistan’s On-Farm Water Management Project.
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ArticleUSTR will soon accept tariff exclusion requests
The Office of the U.S. Trade Representative will begin accepting tariff exclusion requests on Oct. 31 for Chinese imports subject to an additional 15 percent tariff that took effect Sept. 1.
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ArticleWhat banking CCOs need to know about new terrorist funding order
Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.
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ArticlePCAOB sanctions Marcum over auditor independence issues
The PCAOB has settled disciplinary actions with audit firm Marcum, an affiliated firm, and its former auditor independence leader over independence violations.
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ArticleHow industries are responding to the escalating U.S.-China trade war
While the escalating tit-for-tat trade war and increasing tariff rate hikes between the U.S. and China cannot be controlled, proactive companies are learning to swing with the punches—from diversifying their supply chains to shifting their production lines elsewhere.
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PodcastBob Ward on pros of targeted sanctions
Bob Ward, director of trade compliance at Wesco International, explains to columnist Tom Fox the benefits of targeted sanctions and how compliance practitioners can properly respond to such.
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ArticleFive ‘essential components’ of a sanctions compliance program
Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.
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Article
FedEx sues Feds over export control burdens related to Huawei dispute
Shipping giant FedEx is suing the federal government in an effort to reverse what it says are impossible to achieve compliance burdens imposed by the Department of Commerce.