OFAC announces rare sanctions enforcement against individual
By 
Kyle Brasseur2020-08-12T16:58:00
The Office of Foreign Assets Control announced a $5,000 settlement with a U.S. person for apparent sanctions violations—a reminder the regulator can pursue enforcement against individuals in addition to companies.
Related articles
-
PremiumShadow AI: Another element of TPRM
Companies may face significant financial and legal risks if they fail to vet suppliers and third parties over their use of unauthorized AI and how the technology may use and share their corporate data.
-
OpinionBeyond the Binder: Policy governance in practice
Most compliance professionals have faced it: a regulator or client requests a policy, and several slightly different “final” versions appear. The issue often stems from reactive, siloed work without a unified governance framework.
-
WebcastOct 14 | CPE Webcast: Navigating Evolving Banking Regulations in the U.S. and Canada
U.S. Banking regulators have moved to loosen traditional regulation and supervision in areas like capital requirements, stress testing and liquidity, while also being more receptive to innovation in areas including Artificial Intelligence and digital assets.
More from Sanctions
-
News BriefInteractive Brokers to pay $11.8M to settle thousands of U.S. sanction violations
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
-
News BriefOFAC fines Harman Industries $1.4M for violating U.S. sanctions on Iran
A Connecticut-based audio electronics company will pay a $1.4 million fine for violating U.S. sanctions, after middle managers at a foreign distributor knowingly diverted the company’s products to Iran.
-
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).