- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2024-04-18T21:20:00
The Treasury Department announced new sanctions against Iran on Thursday, with Treasury Secretary Janet Yellen promising “further actions in the days and weeks ahead” following the Middle East nation’s attack on Israel.
The Treasury’s Office of Foreign Assets Control (OFAC), in coordination with the United Kingdom, targeted two entities and 16 individuals determined to have enabled Iran’s production, procurement, and proliferation of unmanned aerial vehicles (UAVs) like those used in the April 13 attack, the agency said in a press release.
OFAC also designated five companies providing component materials for steel production to Iran’s Khuzestan Steel Company (KSC) and three subsidiaries of Iranian automaker Bahman Group.
2024-06-26T14:37:00Z By Aaron Nicodemus
The Treasury Department’s Office of Foreign Assets Control 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.
2024-05-15T20:56:00Z By Adrianne Appel
Three Russia-based companies and an individual were designated by the U.S. Treasury Department for trying to recapture more than $1.5 billion in frozen shares owned by a previously sanctioned Russian oligarch using a complex evasion scheme.
2024-05-08T20:47:00Z By Jeff Dale
The Financial Crimes Enforcement Network advised financial institutions in detecting illicit transactions related to Iran-backed terrorist organizations.
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).
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.
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