The subsidiary of a technology company that trades on the Singapore stock exchange paid $12 million in fines Thursday to the U.S. Treasury Department’s Office of Foreign Assets Control for violating trade sanctions against Iran.… Continue Reading
Insurance giant American International Group agreed to pay the Office of Foreign Assets Control about $149,000 to settle 555 “apparent violations” of OFAC sanctions against Iran, Sudan, and Cuba.
China’s ZTE Corporation agreed Tuesday with the DOJ and two other agencies to pay $892 million for knowingly shipping dual-use telecoms equipment to Iran for six years and lying to cover up the trade offenses.… Continue Reading
Houston-based driller National Oilwell Varco, Inc. reached a settlement with the DOJ, the Commerce Department, the Treasury Department’s Office of Foreign Assets Control, and U.S. Immigration and Customs Enforcement for trade sanction violations reaching back to 2002.… Continue Reading
The Treasury Department’s Office of Foreign Assets Control said Tuesday PanAmerican Seed Co. paid $4.32 million to settle potential civil liability for Iran sanctions violations.
OFAC settled the case without going to court.… Continue Reading
Regulators charged with enforcing anti-corruption, anti-money laundering, and economic sanctions laws and regulations have turned new attention to the real estate industry, and investigations and enforcement efforts span the globe.
Over recent years, U.S.… Continue Reading
Corruption, we often hear, “undermines democratic institutions.” That’s a sterilized phrase. What does it really mean?
Start with a legitimately elected leader. If he’s weak and greedy — as many people are — he takes a few small bribes in return for helping cronies game the system.… Continue Reading
If you’re a U.S. company — unless you’re a food, medicine/medical supplies, or civil aircraft/parts supplier — you still cannot have anything to do with Iran, even after the so-called lifting of sanctions as part of the nuclear accord known as the Joint Comprehensive Plan of Action.… Continue Reading
The U.S. Treasury Department’s Office of Foreign Assets Control imposed new sanctions Sunday against eleven people and companies allegedly involved in Iran’s ballistic missile program. The action came one day after President Obama lifted sanctions on Iran’s nuclear program and hours after a prisoner swap between Washington and Tehran.… Continue Reading
Federal and New York authorities said Wednesday that Deutsche Bank will pay $258 million and fire six senior employees to resolve investigations into thousands of illegal transactions with customers in Iran, Libya, Syria, Myanmar, and Sudan.… Continue Reading
French bank Crédit Agricole will pay $787 million and hire an independent monitor after violating U.S. sanctions against Sudan, Iran, Myanmar, and Cuba between 2003 and 2008.
The bank will also fire a managing director involved in the violations of U.S.… Continue Reading