The Department of Justice (DOJ) won’t prosecute German-based Robert Bosch GmbH (Bosch) for export violations under the Criminal Division’s Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP). It is the first corporate declination under the CEP, which credits self-disclosure and self-remediation. The CEP, issued in March, credits corporations that self-disclose misconduct, cooperate with the DOJ investigation […]
Iran
Posted inEnergy and Utilities
Compliance has key role in supporting strategy as global energy crisis looms
The war in Iran and closure of the Straits of Hormuz have sent shockwaves through
the global economy and sent companies scrambling to reassess their energy use
and supply chains. Compliance teams must highlight how they can help.
Posted inSanctions
Indian company pays OFAC $275M over alleged Iranian sanctions violations
An Indian company has agreed to pay $275 million to settle allegations that it purchased Iranian liquefied petroleum gas in violation of U.S. sanctions, the U.S. Department of the Treasury’s Office of Foreign Assets Control announced Monday.
Posted inOpinion
Iran blockade: 5 top tips for compliance officers
The continuing United States and Israel-led campaign against Iran and the blockade of the Strait of Hormuz have created numerous difficulties for companies both directly and indirectly. Experts set out the top five key issues that compliance officers face due to the ongoing situation in Iran:
