- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-03-03T22:13:00
OFAC Director Andrea Gacki shares insights about her organization’s latest sanctions enforcement priorities, its expectations of sanctions compliance programs, and how to mitigate sanctions risk.
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The Office of Foreign Assets Control announced a $34,329 settlement with MoneyGram Payment Systems for apparent violations of multiple sanctions programs, including the processing of transactions involving Syria.
Ohio-based manufacturer UniControl will pay $216,464 for apparent U.S. sanctions violations that occurred when its European trade partners re-exported its products to Iran.
Revised guidance by the U.K. Office of Financial Sanctions Implementation suggests the agency might be strengthening its current enforcement stance as it pertains to breaches of financial sanctions.
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.
