- 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.
Big Tech digital payment apps will be subjected to increased oversight and requirements–similar to that of banks and credit unions–under a finalized rule by the Consumer Financial Protection Bureau.
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.
Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation to investigate and penalize those who break sanctions rules.
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control for helping to obtain components used in Iran’s missles and drones.
