The DOJ and Commerce Department said Wednesday a unit of Paris-based Schlumberger Ltd. has agreed to plead guilty and pay a $232.7 million penalty for conspiracy to violate trade sanctions with Iran and Sudan.… Continue Reading
Posts Tagged: Sudan
Commerzbank AG agreed to pay $1.45 billion for doing business with Iran and other sanctioned countries and its failure to have adequate money laundering controls, the DOJ and New York financial regulator said Thursday.… Continue Reading
The NSS is important. It sets the agenda for the executive branch of the government — the DOJ and SEC, the State Department, the Commerce Department, the Treasury Department, and so on — and it signals foreign policy priorities to Congress.… Continue Reading
A federal judge Thursday refused to approve a settlement of sanctions violations by a subsidiary of Dutch aerospace firm Fokker Technologies Holding.
Federal judge Richard J. Leon of the District of Columbia said the proposed $21 million penalty was “grossly disproportionate to the gravity of Fokker Sercvices’ conduct in a post-911 world.”… Continue Reading
The University of Richmond Annual Corruption Issue, Part III: Toward Pre-Approved Compliance Programs?
The University of Richmond’s Journal of Global Law & Business is proud to announce its annual Corruption Issue. In this series of posts, each co-authored by a UR law student and Professor Andy Spalding, we’ll introduce this year’s articles and invite submissions for next year’s issue.… Continue Reading
Richard Ammer Chichakli, an associate of convicted international arms dealer Viktor Bout, was sentenced Thursday in Manhattan federal court to five years in prison.
Chichakli, pictured, is a dual U.S. and Syrian citizen.… Continue Reading
Run-amok compliance officers cost Bank of Tokyo Mitsubishi $315 million for sanctions report whitewash
The New York State Department of Financial Services (DFS) Tuesday levied $315 million in penalties against Bank of Tokyo Mitsubishi UFJ (BTMU) for misleading regulators regarding its transactions with Iran, Sudan, Myanmar, and other sanctioned entities.… Continue Reading
Leslie Caldwell, chief of the DOJ’s criminal division, talked at last week’s Annual Ethics and Compliance Conference in Atlanta. She covered the ten hallmarks of an effective compliance program and cooperation with the DOJ in FCPA and other white-collar investigations.… Continue Reading
The U.S. Attorney in Manhattan is investigating Germany’s Commerzbank AG for alleged violations of money-laundering laws, the Wall Street Journal reported Friday.
BNP Paribas SA said Jean Clamon, its top compliance officer since 2008, will retire this year.
Clamon, also a former chief operating officer, will be succeeded by Eric Martin, head of internal audit.… Continue Reading
New York’s Department of Financial Services said Monday that PricewaterhouseCoopers (PwC) Regulatory Advisory Services has been suspended for two years for helping whitewash a sanctions and anti-money laundering compliance report from the Bank of Tokyo Mitsubishi (BTMU).… Continue Reading
BNP Paribas SA ignored the warnings of its compliance staff as the bank broke U.S. sanctions, but the compliance team helped hide the origins of the transactions from U.S.… Continue Reading