P is also for Penalties – in particular, this covers the penalties for violations under the Trading with the Enemy Act… This part of the RPPR is from 31 CFR 501.701-747 (aka “Subpart D”). Sections 704 through 747 deal with the minutiae of the hearing process, and won't be covered […]
It's not everyday that a story on CNN's front page sneaks its way into our part of the compliance world. Friday, it happened again. Defense Distributed, who set off a firestorm when they demonstrated “The Liberator”, a handgun almost exclusively (except for a nail used as a firing pin, and […]
DFAT has updated its Consolidated list for these 7 individuals listed under the sanctions against the Democratic Republic of the Congo: The List has been updated as follows: For Thomas LUBANGA, under the field “Passport/Identifying information”, the following sentence was added: “Convicted by the ICC in March 2012 and sentenced […]
Pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000, OFAC reports quarterly on license applications and approvals. The new one's out today. It has some nice charts and tables, showing license applications vs approvals by country and/or product, as well as a nice bar chart of the […]
One individual, one company – from a place you wouldn't expect – Taiwan! CHANG, Wen-Fu (a.k.a. CHANG, Tony; a.k.a. ZHANG, Wen-Fu); DOB 01 Apr 1965; nationality Taiwan; Passport 211606395 (Taiwan) (individual) [NPWMD]. TRANS MULTI MECHANICS CO. LTD. (a.k.a. FENG SHENG CO., LTD.), 19, Chin Ho Lane, Chung Cheng Rd., Taya […]
The American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the “American Club”) just got fined $348,000 for 55 non-egregious violations of the Cuban, Iranian and Sudanese sanctions programs that they did not voluntarily self-disclose. The transactions were maritime Protection and Indemnity (P&I) insurance claims, Letters of Undertaking (LOU – […]
I guess these weren't important enough to make Treasury's big press release. These are under the Iran and NPWMD sanctions programs: KHAKI, Parviz (a.k.a. “MARTIN”); DOB 26 Aug 1968; POB Tehran, Iran (individual) [NPWMD] [IFSR]. ALUMINAT (a.k.a. ALUMINAT PRODUCTION AND INDUSTRIAL COMPANY), Unit 38, 5th Floor, No. 9, Golfam Avenue, […]
You know it's big news when the US Treasury Department issues the press release, not OFAC… Two big pieces of news on the Iran sanctions front. First, Sambouk Shipping FZC has been sanctioned as a front company for Dr. Dimitris Cambis, who was previously sanctioned for trying to evade the […]
Under the Terrorist Asset-Freezing etc. Act of 2010, Her Majesty's Treasury may make either interim or final designations of terrorists, or those who aid and abet them, whose assets are to be frozen. A final designation is good for one year. If HMT does not renew the designation within one […]
My friend at OFAC confirmed, off the record, of course, that the statutory maximum civil penalty for the Kingpin Act is still $1,075,000. So, I whipped out my browser and my calculator and did the math. In June 2002, the CPI-U (used for calculating the adjustment) was, according to the […]
Mr. Watchlist 