Enforcement Actions
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, July 23, 2020 United States Files Complaint to Forfeit More Than $2.37 Million From Companies Accused of Laundering Funds to Benefit Sanctioned North Korean Entities The United States has filed a complaint to forfeit $2,372,793, announced the Department of […]
So, what happened? Between November 2012 and December 2015, Whitford and its owned or controlled foreign subsidiaries appear to have violated the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR), 74 times when (1) Whitford’s foreign subsidiaries exported goods to Iran and engaged in trade-related transactions with Iran1; […]
Department of Justice U.S. Attorney’s Office District of Columbia FOR IMMEDIATE RELEASE Thursday, July 23, 2020 United States Files Complaint to Forfeit More Than $2.37 Million From Companies Accused of Laundering Funds to Benefit Sanctioned North Korean Entities WASHINGTON – The United States has […]
The recent enforcement action against Essentra FZE also come with a settlement agreement. However, although a link is posted on the Recent Actions page, you can’t get to it from the list of enforcement actions OFAC maintains. The settlement is posted below – and adds some additional detail of the […]
Published today on KYC360, Amazon: Prime Time for Penalties is my latest. It goes beyond the facial failures and tries to dig a little deeper – like, why did they not catch references to Yalta? Did they not have geographic place name data? Was the reference in a data element […]
Today, OFAC announced that Essentra FZE settled apparent violations of the Norht Korea Sanctions Regulations for $665,112. This represented a discount from the base penalty of $923,766 for egregious, not voluntarily self-disclosed violations, but was almost double the value of the goods involved ($333,272). What Essenta FZE did In early […]
SUPERINTENDENT LACEWELL ANNOUNCES DFS IMPOSES $150 MILLION PENALTY ON DEUTSCHE BANK IN CONNECTION WITH BANK’S RELATIONSHIP WITH JEFFREY EPSTEIN AND CORRESPONDENT RELATIONSHIPS WITH DANSKE ESTONIA AND FBME BANK First Enforcement Action by a Regulator Against a Financial Institution for Dealings with Jeffrey Epstein Superintendent of Financial Services Linda A. Lacewell […]
The settlement: $134,523 The base penalty: $134,523…. but the statutory maximum was $1,038,206,212 What were the actual violations? From on or about November 15, 2011, to on or about October 18, 2018, persons located in Crimea, Iran, and Syria placed orders or otherwise conducted business on Amazon’s websites for consumer […]
Press Release U.S. citizen charged with violating the Kingpin Act Stepson of Mexican drug kingpin Rafael Caro Quintero transferred property into his name to evade Treasury Department sanctions program NEW YORK – A complaint was unsealed yesterday in the Eastern District of New York charging Bryant Espinoza Aguilar, the stepson of Sinaloa […]
PRESS RELEASE JULY 1, 2020 World Bank Group Debars Yooshin Engineering Corporation WASHINGTON, July 1, 2020 — The World Bank Group today announced the 13-month debarment of Yooshin Engineering Corporation (“Yooshin”), a general engineering and construction supervision company based in the Republic of Korea, in connection with fraudulent practices as part of […]
