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OFSI’s New Teeth: Sanctions in the Wake of ‘Brexit’ and Actions Taken by the UK Regulator (So Far)

February 27, 2020 By: Anna Sayre, CSS, Director of Content at ACSS On January 31, 2020, the U.K. Parliament finally cut ties from the E.U. after two years of grueling debates and discussions in Brussels, signaling a chance for Britain to break away from the E.U....

Recent OFAC Settlements with Non-Financial Companies and Lessons Learned

November 4, 2019 By: Thomas Nollner* A commonly held misconception within the sanctions industry is that Office of Foreign Assets Control (OFAC) sanctions programs only apply to financial institutions. Recent large civil liability settlements between OFAC and several...

Wake Up To Sanctions | Second Quarter 2019 – Summer Edition Sanctions Round Up

August 05, 2019 OFAC Publishes New Framework for Compliance Commitments, Naming 5 Essential Components On May 2, 2019, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) published a Framework for OFAC Compliance Commitments “in order to provide organizations...

Lessons from the Euroturbine Case: Global Trends and Enhanced Due Diligence Essential to Safeguard Your Business

February 21, 2019 By: Jan Verloop* On February 18, 2019, Euroturbine B.V. (Euroturbine), a Dutch supplier of specialist parts for gas and steam turbines, was fined for the illicit export of so-called ‘dual-use’ items with full knowledge that the items would eventually...

The Zoltek Experience: Six Lessons for U.S. Companies with Foreign Subsidiaries

February 4, 2019 By: Scott Nance and George Voloshin On December 20, 2018, the Office of Foreign Assets Control (OFAC) published a penalty notice and settlement agreement with Zoltek Companies, Inc., a U.S. producer of carbon fiber. OFAC found that Zoltek had violated...

Wake Up To Sanctions

November 19, 2018 SanctionsAlert.com Sanctions Round Up US Imposes Sanctionson 17 Saudis for Alleged Role in Khashoggi Killing, but Prince Stays Clear On November 15, the U.S....

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