On New Year’s Eve, the U.S. Department of Treasury Office of Foreign Assets Control (“OFAC”) released new information on civil penalities assessed against a number of entities and individuals for violations of OFAC Administered Sanctions programs.

OFAC issues monthly notices detailing the civil penalities issued and the violations for which they were assessed. During the month of December 2008, OFAC assessed civil penalties in the amount of $33,823.65. These penalities came against three seperate entities and one individuals for violations of the Foreign Narcotics Kingpin Sanctions Regulations, the Iranian Transactions Regulations, and the Burmese Sanctions Regulations.

More information on the penalities can be found here.

If you feel that you may have violated any OFAC administered regulations or seek assistance in complying with those regulations please contact the author at 202-329-5652 or by email at ferrari@mcnabbassociates.com

The author of this blog is Erich C. Ferrari, an attorney in Washington, DC, who specializes in Sanctions Law and White Collar Criminal Defense. If you have any questions about the blog please email him at ferrari@mcnabbassociates.com