Sanctions


HumanRights

Treasury sanctions 18 individuals connected to human rights abuse

2019-12-10T18:30:00+00:00By

The Office of Foreign Assets Control has added 18 individuals across six geographies to its Specially Designated Nationals list for their roles in serious human rights abuse. Six entities have also been added to the list.

ArrowsUp

Study: Spike in OFAC sanctions pose compliance challenges

2019-12-06T20:04:00+00:00By

Some companies might scramble to comply with more—and sometimes quickly shifting—sanctions requirements as the U.S. government chalks up record enforcement levels.

Apple

OFAC: Apple shows ‘reckless disregard’ for sanctions in ‘non-egregious’ violation

2019-11-26T17:11:00+00:00By

The Treasury Department’s Office of Foreign Assets Control had harsh words for Apple’s sanctions compliance program in announcing a not-so-hefty $466,912 settlement with the technology giant.

Huawei logo

Reports: Huawei dangles incentives to overcome U.S. sanctions

2019-11-13T21:21:00+00:00By

Chinese telecommunications giant Huawei is reportedly offering cash rewards to employees aiding its struggle against significant U.S. sanctions.

Refinitiv Sanctions

e-Book: Navigating the Hazardous World of Global Sanctions

2019-10-31T07:23:00+00:00Provided by

The world of global sanctions compliance is only growing more complex, not simpler. This can’t-miss e-Book, produced by Compliance Week in collaboration with Refinitiv, will help compliance officers and corporate counsel navigate through these legal and regulatory complexities.

WorldBankGroup

World Bank Group debars MTZ Equipment for fraud

2019-10-30T17:12:00+00:00By

The World Bank has imposed a 30-month debarment on Canada-based MTZ Equipment for fraudulent practices connected to Afghanistan’s On-Farm Water Management Project.

Tarriffs

USTR will soon accept tariff exclusion requests

2019-10-22T18:17:00+01:00By

The Office of the U.S. Trade Representative will begin accepting tariff exclusion requests on Oct. 31 for Chinese imports subject to an additional 15 percent tariff that took effect Sept. 1.

TerroristMoney

What banking CCOs need to know about new terrorist funding order

2019-09-13T14:42:00+01:00By

Impacted financial institutions, including cryptocurrency exchangers, may want to review know-your-customer policies and anti-money laundering compliance in light of President Trump’s executive order.

Audit

PCAOB sanctions Marcum over auditor independence issues

2019-09-11T17:59:00+01:00By

The PCAOB has settled disciplinary actions with audit firm Marcum, an affiliated firm, and its former auditor independence leader over independence violations.

ChinaUSTradeWar

How industries are responding to the escalating U.S.-China trade war

2019-09-06T15:36:00+01:00By

While the escalating tit-for-tat trade war and increasing tariff rate hikes between the U.S. and China cannot be controlled, proactive companies are learning to swing with the punches—from diversifying their supply chains to shifting their production lines elsewhere.

Ward

Bob Ward on pros of targeted sanctions

2019-07-15T15:45:00+01:00By

Bob Ward, director of trade compliance at Wesco International, explains to columnist Tom Fox the benefits of targeted sanctions and how compliance practitioners can properly respond to such.

Sanctions

Five ‘essential components’ of a sanctions compliance program

2019-07-02T19:40:00+01:00By

Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.

FedEx plane

FedEx sues Feds over export control burdens related to Huawei dispute

2019-06-25T18:12:00+01:00By

Shipping giant FedEx is suing the federal government in an effort to reverse what it says are impossible to achieve compliance burdens imposed by the Department of Commerce.

TornContract

SEC overturns PCAOB action stemming from financial crisis

2019-06-19T13:45:00+01:00By

The SEC has canceled sanctions imposed by the PCAOB on a now-retired KPMG auditor connected with a mortgage lender failure at the height of the financial crisis.