- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-01-27T20:25:00
Eagle Shipping International will make a handful of enhancements to its compliance controls as part of a $1.125 million settlement with the Department of the Treasury’s Office of Foreign Assets Control.
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Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with OFAC regarding subsidiary dealings in the sanctioned country of Iran.
Société Internationale de Télécommunications has agreed to pay approximately $7.8 million to settle 9,256 apparent sanctions violations with the Treasury Department’s Office of Foreign Assets Control.
Launching or expanding a corporate data analytics program for compliance can seem like a daunting task, but it is one worth adding to your to-do list in 2025.
The EU and U.K. have rushed to commit themselves to intensifying action on sanctions evasion after U.S. President-elect Donald Trump’s victory, but any compliance managers who believe Trump will make global sanctions compliance easier in 2025 are likely to be disappointed.
With a new political regime ready to take over in the U.S., the effectiveness of sanctions against malign foreign actors like Russia, North Korea, and Iran have come into question. While the European Union and U.K. have increased sanctions pressure, critics have publicly asked: Is it enough?
The U.K. has issued 56 new sanctions against entities and individuals involved with Russia’s war effort, including several private mercenary groups operating in Africa that are connected to the Kremlin.
