OFAC fines French bank UBAF $8.6M for Syria-related sanctions violations
By 
Jaclyn Jaeger2021-01-05T17:28:00
The Office of Foreign Assets Control settled with a French bank for processing payments on behalf of sanctioned Syrian financial institutions that were followed by corresponding funds transfers through the U.S. financial system.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleRomanian bank penalized over Iran and Syria sanctions lapses
The Office of Foreign Assets Control fined Romania-based First Bank and its U.S. parent company JC Flowers & Co. $862,318 as part of a settlement for First Bank’s processing of transactions in apparent violation of Iran and Syria sanctions.
-
ArticleOFAC fines Saudi bank for Sudan/Syria sanctions violations
The Office of Foreign Assets Control announced a $650,000 settlement with a Saudi Arabian bank for apparent violations of sanctions against Sudan and Syria related to transactions that took place via the U.S. financial system.
-
ArticleGeopolitical risks and global threats drive emerging national security compliance teams
Geopolitical uncertainty is becoming the defining feature of the decade, and global powers are increasingly using geo-economic power to promote national interest and defend their critical interests. Multinational companies, consultants, and global law firms are responding by setting up dedicated national security teams.
More from Sanctions
-
News BriefFormer bank CEO pleads guilty in Venezuela-linked fraud and sanctions violations
A former bank chief executive has pleaded guilty in a U.S. federal court to charges tied to a multimillion-dollar fraud and sanctions evasion scheme linked to Venezuela. This follows the U.S. removal of Venezuelan President Nicolás Maduro from the country, and has opened up the country for trading oil and ...
-
ArticleLong-running corruption scandal adds €25.8M fine to billions already paid globally
The Netherlands Public Prosecution Office has fined a company linked to a U.S.-sanctioned Israeli businessman €25.8 million ($29.9 million) for bribing officials in the Congo. The case began in 2018 and relates to bribes paid in 2010-2011, demonstrating the slow and complex process often involved in such investigations.
-
ArticleU.K. and EU commit to extending Russian sanctions and strengthening enforcement
As the U.S. relaxes some Russian sanctions to ease oil flows, the U.K. government has published a new Strategic Approach to Sanctions Enforcement, indicating that it does not intend to relax its focus on prosecuting sanctions breaches.