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Entries tagged “ofac”

Non-U.S. Companies Fined for OFAC Violations

insights August 3, 2017

Having historically targeted banks, OFAC shows interest in penalizing banks’ customers that send illegal payments through the U.S. financial system. OFAC’s action is significant because it appears to be the first time the entity penalizes a non-U.S., non-financial company for “causing” sanctions violations by initiating U.S. dollar payments involving a sanctioned country. Read more here. Ms.…

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