- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-07-29T16:27:00
Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with OFAC regarding subsidiary dealings in the sanctioned country of Iran.
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The U.S. Department of the Treasury’s Office of Foreign Assets Control assessed a $4.1 million fine against Berkshire Hathaway for “egregious” violations of sanctions against Iran committed by a subsidiary in Turkey.
A cigarette filter maker has entered into the first-ever U.S.-North Korea DPA with the Justice Department for sanctions violations and agreed to pay a fine of $665,112 to the Treasury Department’s Office of Foreign Assets Control.
Amazon will pay approximately $135,000 as part of a settlement with the Office of Foreign Assets Control regarding apparent sanctions violations derived from deficient screening processes.
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.
The Treasury Department’s Office of Foreign Assets Control and Secretary Janet Yellen announced sanctions Thursday against the top leaders of La Nueva Familia Michoacana drug cartel over the illicit trafficking of synthetic opioid fentanyl in the United States.
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
