By Aaron Nicodemus2024-06-26T14:37:00
The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned nearly 50 entities connected with so-called “shadow banking” networks that help Iran’s military evade U.S. sanctions and to sell the country’s oil and petrochemical products.
The entities sanctioned by OFAC include the Sadaf Exchange in Iran and Golden Stars currency exchange company in Türkiye, both owned by Seyyed Mohammad Mosanna’i Najibi, an Iranian-Turkish money-changer also placed on the sanctions list, OFAC said Tuesday in a press release.
Najibi’s companies used 27 “cover companies” based in Hong Kong, the United Arab Emirates, and the Marshall Islands to conduct shadow banking activity on behalf of Iran’s military, OFAC said. OFAC has sanctioned all of the companies as well.
2024-12-16T19:20:00Z By Adrianne Appel
A Minnesota transportation company agreed to pay nearly $258,000 to settle allegations that a subsidiaries violated sanctions against Cuba and Iran more than 80 times, the U.S. Treasury Department’s Office of Foreign Assets Control said.
2024-11-18T20:43:00Z By Aaron Nicodemus
A subsidiary of MetLife will pay more than $178,000 for violating U.S. sanctions on Iran when it provided insurance policies to entities in the United Arab Emirates owned or controlled by Iran.
2024-09-27T13:36:00Z By Adrianne Appel
U.S. and European law enforcement agencies have announced sanctions against two Russia-linked cryptocurrency platforms in their ongoing chase to snuff out Russian-linked financial platforms that assist cybercriminals.
2025-07-18T16:33:00Z By Aaron Nicodemus
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.
2025-07-09T14:31:00Z By Aaron Nicodemus
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.
2025-07-02T20:31:00Z By Aaron Nicodemus
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).
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