By Kyle Brasseur2023-07-14T19:15:00
When Deputy Attorney General Lisa Monaco first described sanctions as “the new FCPA,” the risk landscape changed.
The idea of the Department of Justice (DOJ) scrutinizing sanctions on par with how it views bribery and corruption under the Foreign Corrupt Practices Act alters the calculus of whether a company should voluntarily self-disclose potential violations.
“Part of what’s so scary about this for companies and in-house compliance professionals is that sanctions have traditionally been strict liability,” said Jessica Sanderson, partner at Volkov Law Group, during a panel discussion at Compliance Week’s Third-Party Risk Management Summit in Atlanta. “You don’t really need to know that you’re violating the law to be held responsible—at least for the administrative penalties.”
2023-10-05T18:50:00Z By Kyle Brasseur
The Department of Justice’s push to incentivize companies to voluntarily self-disclose potential misconduct reached its next stage in the form of a safe harbor policy regarding mergers and acquisitions.
2023-09-12T16:51:00Z By Kyle Brasseur
The Department of Justice announced new positions in its National Security Division to support the agency’s crackdown on sanctions evasion, export control violations, and other forms of economic crime.
2023-08-15T20:59:00Z By Jeff Dale
Freedom Holding Corp. was accused of “brazen sanctions evasion,” along with openly flouting anti-money laundering and know your customer regulations, as part of an investigative report published by short seller Hindenburg Research.
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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