More Compliance Guidance from OFAC, via an Enforcement Action

The Treasury Department’s Office of Foreign Assets Control has used a settlement agreement to set out management’s role in creating and running an effective sanctions compliance program. Dubai-based Essentra FZE Co. Ltd. paid about $665,000 in penalties for illegal sales of cigarette filters to North Korea. Although all the parties were “non-U.S. persons,” they violated […]
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