March 30, 2023: Wells Fargo opens its wallet – for OFAC
Here’s the web notice we’re used to seeing: and a bonus!… the settlement agreement: Links: OFAC Notice Settlement Web Notice
Honeywell UOP pays $160 million for FCPA violations
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Monday, December 19, 2022 Honeywell UOP to Pay Over $160 Million to Resolve Foreign Bribery Investigations in U.S. and Brazil UOP LLC, doing business as Honeywell UOP, a U.S.-based subsidiary of Honeywell International Inc., has agreed to pay more than […]
FCA resolves enforcement action against former Sonali Bank CEO
FCA issues Final Notice to former CEO for anti-money laundering failings Press Releases First published: 18/11/2022 Last updated: 18/11/2022 The Financial Conduct Authority has publicly censured Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer of Sonali Bank (UK) Limited (SBUK) for anti-money laundering (AML) failings. Mr Prodhan was the senior manager at SBUK […]
$130,000 settlement of kickback allegations against medical practice
Department of Justice U.S. Attorney’s Office District of Massachusetts FOR IMMEDIATE RELEASE Monday, October 3, 2022 Florida Medical Practice Agrees to Pay $130,000 to Resolve Allegations That it Received Kickbacks from Pharmaceutical Distributor BOSTON – Southeast Florida Hematology and Oncology Group (SEFHOG), a now-defunct specialty medical practice in Fort Lauderdale, […]
Corruption News: Charges & Indictments, settlements involving AT&T Illinois, former IL House Speaker
Since they all involve the same conduct, let’s show you the one where the big corporation coughs up $29 million to settle the charges against it – you can then read the other facets of this at your leisure, if you wish: Department of Justice U.S. Attorney’s Office Northern District […]
Brazilian airline to pay over $41 million to resolve FCPA books and records violation
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, September 15, 2022 GOL Linhas Aéreas Inteligentes S.A. Will Pay Over $41 Million in Resolution of Foreign Bribery Investigations in the United States and Brazil GOL Linhas Aéreas Inteligentes S.A. (GOL), an airline headquartered in São Paulo, Brazil, will […]
An enforcement two-for: OFAC fines two US firms’ Suriname operations for Cuban sanctions violations
For now, let’s just give you the headlines and the links… after I review the documents, I may devote posts to the details… Settlement Agreements between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Newmont Corporation and Chisu International Corporation Release date 04/21/2022 Body The U.S. […]
… and Alfa Laval’s lessons to be learned
Alfa Laval Middle East: Non-U.S. companies should be aware of how their activities might trigger compliance issues with U.S. sanctions, including when they place orders with U.S. affiliates or subsidiaries. This is especially true for companies operating in multiple countries as part of a larger global business organization, and particularly […]
The Alfa Laval Enforcement Actions: the penalty calculations & General Factors
Alfa Laval Middle East: OFAC determined that AL Middle East did not voluntarily self-disclose the Apparent Violations and that the Apparent Violations constitute an egregious case. Accordingly, under OFAC’s Economic Sanctions Enforcement Guidelines (“Enforcement Guidelines”), the base penalty applicable in this matter was $615,844, which was also the applicable statutory […]
…. And Alfa Laval commits to adhering to OFAC’s framework…
Compliance Commitments: Respondent has terminated the conduct described above and has established and agrees to maintain for at least five years following the date this Agreement is executed, sanctions compliance measures that are designed to minimize the risk of recurrence of similar conduct in the future. Specifically, OFAC and Respondent […]
Mr. Watchlist 