OFAC Settles the Big One: ING Bank to Pay $619 Million for Sanctions Violations
Today, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) settled a number of violations of…
Will AON Face an OFAC Designation or an OFAC Penalty?
There are some reports being published by African news outlets that AON Corporation, one of the world’s largest insurance brokers,…
OFAC Designates Syria International Islamic Bank
The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added Syria International Islamic Bank (SIIB)…
Remediating OFAC Violations
One of the key general factors in the United States Department of the Treasury’s Office of Foreign Assets Control’s (OFAC)…
Sending Money to Those in Iran: Check with OFAC First
We get questions all the time about individuals seeking to transfer funds to Iran to help out family members. Many…
The Foreign Sanctions Evaders Sanctions a/k/a “The President and OFAC Are Not Messing Around” Sanctions
I didn’t see this coming at all, but yesterday President Obama signed an executive order which will prohibit certain activities…
New Sanctions Coming for…..Venezuela?
Over a year ago, I wrote a couple of blog postings regarding the growing concerns of the U.S. Government surrounding…
One Way Guatemalan OFAC Kingpin Overdick-Mejia Could Get Off SDN List
Yesterday, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated a Guatemalan spice buyer, Horst…
Another Iranian Airline is Designated for Placement on the OFAC SDN List
Today, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated several entities and individuals as…
More OFAC Information for the Insurance Industry
The previous blog posting we put up on OFAC compliance for the insurance industry received quite a bit of positive…