- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-11-22T16:08:00
U.K. companies might be wary of informing regulators they have potentially violated sanctions against Russia over fears they could be publicly criticized for even minor breaches.
Legal and compliance experts assumed minor infractions of the rules would not likely be punishable as companies prepared to conduct more detailed background checks.
However, the Office of Financial Sanctions Implementation’s (OFSI) decision in August to call out payments firm Wise Payments for failing to prevent a designated customer from withdrawing just 250 pounds (U.S. $312) from a cash machine has led some experts to raise questions about the U.K.’s regulatory approach.
2023-12-13T17:19:00Z By Kyle Brasseur
The U.K. government is set to establish a new agency to enforce trade sanctions and provide compliance guidance to businesses regarding the country’s sanctions regimes.
2023-12-12T20:23:00Z By Kyle Brasseur
More than 150 new designations implemented by the Office of Foreign Assets Control continue U.S. efforts to crack down on entities and individuals supporting Russia from outside the country.
2023-11-06T23:09:00Z By Aaron Nicodemus
Christian Nauvel, deputy chief counsel for corporate enforcement in the Department of Justice’s National Security Division, said the agency’s focus on national security is “top of mind at the highest levels” and that enforcement numbers are set to increase.
2025-06-17T19:34:00Z By Aaron Nicodemus
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.
2025-06-13T14:39:00Z By Aaron Nicodemus
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.
2025-04-01T16:04:00Z By Aaron Nicodemus
The Trump administration has taken two actions to attack money laundering rings operating in Mexico, highlighting the U.S. government’s focus on curbing the fentanyl trade and the illegal profits it generates.
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