The U.S. Department of the Treasury’s Office of Foreign Assets Control Issues Finding of Violation to Nodus International Bank, Inc.

10/18/2022

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced the issuance of a Finding of Violation to Nodus International Bank, Inc. (Nodus), an international financial entity located in Puerto Rico, for violations of the Venezuelan Sanctions Regulations (VSR), and the Reporting, Penalties and Procedures Regulations (RPPR). The VSR violations related to Nodus’s voluntary self-disclosure of three unlicensed transactions in which an individual on OFAC’s List of Specially Designated Nationals and Blocked Persons had an interest. The RPPR violations reflected Nodus’s failure to maintain full and accurate records related to the handling of blocked property and its inaccurate reporting of the blocked property to OFAC.

OFAC Notice