- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-06-23T15:32:00
The U.S. Department of the Treasury’s Office of Foreign Assets Control has blacklisted a network of Mexican individuals and companies said to be helping Venezuelan President Nicolas Maduro evade U.S. sanctions.
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The DOJ unsealed indictments against Venezuelan President Nicolás Maduro and several high-ranking former and current members of his regime for alleged drug trafficking and money laundering crimes, as well as violations of the FCPA.
A sales representative and a former president of a U.S.-based company are facing charges for their alleged roles in a scheme to corruptly secure business advantages from Venezuela’s state-owned and state-controlled energy company, PDVSA.
With the tightening of sanctions by the United States around Venezuela and PDVSA, there will only be more scrutiny going forward for those that do business with the state-owned oil company.
The Treasury Department’s Office of Foreign Assets Control sanctioned nearly 50 entities connected with so-called “shadow banking” networks that help Iran’s military evade U.S. sanctions and to sell the country’s oil and petrochemical products.
The Treasury Department’s Office of Foreign Assets Control and Secretary Janet Yellen announced sanctions Thursday against the top leaders of La Nueva Familia Michoacana drug cartel over the illicit trafficking of synthetic opioid fentanyl in the United States.
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
