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Latest News about Sanctions

OFAC Has Increased Its Focus on Iran; Here’s What You Need to Know

May 27, 2019 By: Natasha Bright, reporter ACSS

On the one-year anniversary of the United States withdrawal from the Joint Comprehensive Plan of Action (JCPOA), a new executive order was announced that imposes sanctions on Iran’s iron, steel, aluminum, and copper sectors. This was the latest move in the Trump administration’s “maximum pressure” campaign against Iran, which seems to have picked up speed since the beginning of this year.

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Treasury’s new OFAC Compliance Framework to Encourage Level Playing Field Across Industries

May 17, 2019 By: Anna Sayre, Head of Legal Content, ACSS

On May 2, 2019, following an official announcement by Under Secretary of the Treasury for Terrorism and Financial Intelligence during the American Bankers Association/American Bar Association Conference on December 3, the Office of Foreign Assets Control (OFAC)released its much-anticipated Framework for OFAC Compliance Commitments delineating the key elements that it considers to be essential to an effective sanctions compliance program (SCP).

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US Treasury Requests Further Funds Increase For Sanctions, Terrorism, and OFAC IT Infrastructure

May 2, 2019 By: Anna Sayre, Head of Legal Content, ACSS

Regulators at the U.S. Treasury have signalled their top priorities for the year, and it doesn’t look good for sanctions violators. The Treasury’s Office of Terrorism and Financial Intelligence (TFI)’s new budget proposal calls for a substantial increase in funds to both fight terror and enhance sanctions policy enforcement.

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