1. Where can I find the amendments to the Cuban Assets Control Regulations (CACR)? Please see the Federal Register. 2. When is the amendment to the CACR effective? The amendment became effective when published in the Federal Register on January 16, 2015. 3. Are sanctions on Cuba still in place […]
There are both new and updated questions in a Frequently Asked Questions (FAQ) document for the Cuban Assets Control Regulation (CACR). Please note that this is not the same as OFAC's FAQ page – there are no date stamps denoting when each was updated. It's a lengthy (14 page) document […]
On March 25th, OFAC levied a Civil Monetary Penalty against PayPal for violations of the Iran, Cuba, Sudan, terrorism and Weapons of Mass Destructioin sanctions programs. These violations started in 2009 and occured as recently as September 2013, some of which included explicit references to sanctioned countries (e.g. “Tehran” or […]
On March 24th, OFAC added the following to its anti-narcotics trafficking sanctions: KELMENDI, Besnik (a.k.a. KELJMENDI, Besnik); DOB 30 Oct 1980; POB Pec, Kosovo; Passport 5661746 (Bosnia and Herzegovina) (individual) [SDNTK] (Linked To: N.P.T.T. DONA-SHELL). KELMENDI, Donata, Pec (Peje), Kosovo; DOB 16 Sep 1992 (individual) [SDNTK] (Linked To: HOTEL CASA […]
Everyone gets a piece of the pie here – the NY Department of Financial Services gets $610 million, OFAC’s official fine is in excess of $250 million (but is deemed paid on the basis of the lesser amount paid to the Department of Justice). All told, it’s another mega-fine of […]
Sorry for the delay in posting this (work kept me busy, and Mr. Watchlist got a little lazy)… On Friday, January 16th, OFAC posted the amended Cuban Asset Control Regulations (CACR), as well as an FAQ about the changes, which are extensive. I'll post the FAQ questions over the next […]
On Wednesday, OFAC issued a single-question addition to their FAQ for the Cuban sanctions program: Q. How will OFAC implement the changes to the Cuba sanctions program announced by the President on December 17, 2014? Are the changes effective immediately? A. OFAC will implement the Treasury-specific changes via amendments to […]
ESCO Corporation, an Oregon company, settled allegations that it violated Cuban sanctions regulations between November 2007 and June 2011 when its subsidiary purchased products with nickel of Cuban origin. The total amount of the transactions was $6,188,149 and the base penalty for the voluntarily self-disclosed, non-egregious violations was $3,048,208. And […]
OFAC and Bupa Florida agreed to a fine of $128,704 to settle liabilities for 39 apparent violations of the anti-narcotics sanctions programs and Cuba Asset Control Regulations (CACR) between March 2008 and March 2011. They offered “insurance support services for healthcare policies” for people sanctioned under the two anti-narcotics sanctions […]
On Tuesday, OFAC removed the following cargo vessels from the Cuban sanctions program: EAST ISLANDS (C4QB) General Cargo 15,120DWT 8,996GRT Cyprus flag (EAST ISLAND SHIPPING CO. LTD. (SDN)) (vessel) [CUBA]. SOUTH ISLANDS (C4AN) General Cargo 15,147DWT 8,996GRT Cyprus flag (SOUTH ISLAND SHIPPING CO. LTD. (SDN)) (vessel) [CUBA]. and the […]
Mr. Watchlist 