FSR and Corporate Crime Notes

OFAC expands sectoral sanctions on Belarus

OFAC Sanctions Cryptocurrency Exchange to Combat Ransomware Payments, Releases New Ransomware Guidance

OFAC settlement with online payment-services company highlights key OFAC expectations in sanctions compliance programs

OFAC, State Department, and Coast Guard Issue New Guidance About Sanctions Evasion Practices in Shipping Industry

On May 14, 2020, the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”), the US Department of State, and US Coast Guard issued a …

OFAC Issues Finding of Violation — but No Penalty — for Sanctions Violations Caused by Compliance System Defects and Human Error

On April 30, 2020, the US Department of Treasury (“Treasury”)’s Office of Foreign Assets Control (“OFAC”) issued a Finding of Violation to …

OFAC Emphasizes Importance of Risk-Based Sanctions Compliance Programs for US and International Companies

Authors: John O'Donnell, Jonathan Cross, Geng Li, Christopher Milazzo, Susannah Cogman and Daniel Hudson Further emphasizing its expectation that all …

The importance of supply chain due diligence and the risks of modern slavery – OFAC settles North Korean sanctions case with fine

Authors: Kyle Wombolt, Jeremy Birch, Antony Crockett and Emily Purvis. A recent enforcement action by the US Department of the Treasury’s Office of …

Second Wave of United States Sanctions Against Iran Re-Imposed

Following President Trump’s decision on May 8, 2018 to withdraw the United States from the Joint Comprehensive Plan of Action (“JCPOA”), the US …

UNITED STATES ANNOUNCES COMPLETE WITHDRAWAL FROM THE JCPOA, AND PROVIDES WINDING-DOWN PERIOD BEFORE SANCTIONS RE-IMPOSITION

On May 8, 2018, President Trump announced that the United States will completely withdraw from the Joint Comprehensive Plan of Action (the "JCPOA"). The …

US ANNOUNCES NEW RUSSIA SANCTIONS DESIGNATIONS, RELEASES NEW GUIDANCE

On April 6, 2018, the US Department of the Treasury's Office of Foreign Assets Control ("OFAC") announced new designations of seven high-net-worth …

NEW SANCTIONS TARGETING VENEZUELA AND MALI

On 13 November 2017, the EU Council unanimously voted to impose a wide range of targeted sanctions on Venezuela in response to the growing political …

US AUTHORITIES ISSUE COMPREHENSIVE IMPLEMENTATION GUIDANCE ON NEW US SANCTIONS LEGISLATION

Following our earlier bulletin, on October 31, 2017, the US Department of State and Department of Treasury's Office of Foreign Assets Control ("OFAC") …