May 22, 2020 By: Saskia Rietbroek, CSS, Executive Director, ACSS With millions of dollars in potential fines in the balance, on May 15, 2020, the U.S. government released new...
Three Designations and a Removal: Recent Major Companies Targeted by OFAC and Their Implications
May 15, 2020 By: Anna Sayre, CSS, Director of Content, ACSS No matter how large or influential, any company that violates sanctions runs the risk of being placed on the U.S....
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...
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...
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...
Between a rock and a hard place: How to ensure sanction compliance when operating a facility in a sanctions-targeted country
June 13, 2017 By Simon Hirsbrunner and Alice Lauterjung The recently reported resignation of cement manufacturer LafargeHolcim’s CEO has thrown a spotlight on the risks of...
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