MoneyGram plagued by tech, human error in OFAC sanctions settlement
By 
Jaclyn Jaeger2021-04-30T15:46:00
The Office of Foreign Assets Control announced a $34,329 settlement with MoneyGram Payment Systems for apparent violations of multiple sanctions programs, including the processing of transactions involving Syria.
Related articles
-
ArticleMoneyGram sets aside $15.8M to settle NYDFS, CFPB investigations
MoneyGram disclosed it expects to pay a total of $15.8 million to settle two separate investigations by the New York State Department of Financial Services and the Consumer Financial Protection Bureau.
-
ArticleOFAC fines Payoneer $1.4M for sanctions violations
Money transfer services company Payoneer will pay $1.4 million to resolve 2,260 apparent violations of U.S. sanctions in a settlement with the Department of the Treasury’s Office of Foreign Assets Control.
-
ArticleMonitor certifies MoneyGram’s AML program after lengthy DPA
MoneyGram International stated in a regulatory filing it has fulfilled its obligations under a DPA it entered with the Department of Justice eight years ago, and its AML program was given a thumbs-up by its compliance monitor.
More from Sanctions
-
News BriefOFAC fines logistics company Key Holding $609k for violating U.S. sanctions on Cuba
A Delaware logistics company paid a $608,825 fine for violating U.S. sanctions on Cuba, a breach that the company self-disclosed to the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
-
News BriefVenture capital firm self-reports sanctions violations of M&A target to DOJ, receives declination
After self-reporting that a recently purchased subsidiary broke U.S. sanctions and export control laws, a Texas-based venture capital fund will receive no penalty from the U.S. Department of Justice.
-
News BriefOFAC hits GVA Capital with $216M penalty for servicing sanctioned Russian oligarch
A San Francisco venture capital firm will pay a $216 million fine to the U.S. Treasury for violating U.S. sanctions by managing investments for a Russian oligarch.