Regtechtimes on MSN5mon
State Street Bank Settles $7.45 Million Penalty Over OFAC Sanctions Violations
regulatory bodies like OFAC are placing greater emphasis on ensuring that financial institutions uphold sanctions laws. This ...
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OFAC’s $14.5M Blow to Aiotec for U.S. Sanctions Violation
The alleged wrongdoing didn’t end there—payments related to the sale were reportedly routed through U.S. financial institutions, further deepening the violation. OFAC claims that Aiotec’s ...
JD Supra6d
8 Key Takeaways | Part One -- 2024 Roundup: Key Takeaways from U.S. Sanctions Enforcement Actions and 2025 Predictions
Throughout 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control ("OFAC") published 12 enforcement actions regarding ...
JD Supra15d
OFAC Designates Gazprombank for Inclusion on SDN List
OFAC’s alert warned foreign financial institutions that joining SPFS may result in their designation under E.O. 14024 for operating within the Russian Federation’s financial services sector.
American Banker19d
Banks must focus on ESG issues to win the money-laundering fight
The financial landscape may seem like a battlefield ... monitoring to identify transfers related to child exploitation. In 2023, the U.S. Office of Foreign Assets Control, or OFAC, sanctioned a ...
EDN13y
ATTUS Technologies, Inc. Launching Its Enhanced WatchDOG® Wire Regulatory Compliance Software For Financial Institutions
“Our entire wire process has been enhanced as we are able to process wires faster and more efficiently – while complying with OFAC,” said Melanie Main ... the most labor-intensive processes for ...
exportcompliancedaily4d
Miami Real Estate Agent Fined by OFAC, Pleads Guilty to Russia Sanctions Evasion
The Office of Foreign Assets Control fined a Miami-based real estate firm and its owner more than $1 million after the agency said they helped two sanctioned Russian oligarchs transfer their luxury ...