In one of the more notable enforcement actions of 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently imposed a $1,104,408 civil penalty on a U.S ...
The Treasury delayed a Jan. 1 deadline to file a new "beneficial ownership information" report to Jan. 13 following a recent ...
SkyGeek voluntarily disclosed some of the potential violations, which OFAC called non-egregious. The agency said it could have imposed a maximum civil penalty of more than $2.2 mi ...
An insurer who violates OFAC sanctions may be subject to significant penalties, including civil fines and criminal prosecution. OFAC enforces most sanctions programs based on strict liability ...
Vulnerabilities related to environmental, social and governance issues have become a serious threat vector when it comes to ...