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OFAC Enforcement Actions By the Numbers: What Makes a Penalty?

Cuba, Iran, Sudan Top the List of OFAC Actions; Recent Trend Suggests Voluntary Disclosure Could Mitigate Penalty Amount

November 7, 2017
By Anna Sayre, SanctionsAlert.com

The dread of an OFAC penalty is something that no institution or company wants to face. But the Iran and Cuba sanctions regimes are more frequently enforced than others. The amount of sanctions enforcement cases based on violations of these two programs dwarfs any others by a wide margin. And, once you find out that your company has made a sanctions misstep, and you tell OFAC about it, you may mitigate the penalty amount.Since 2013, the benefits of voluntary disclosure have begun to show as part of a downward trend. read more…

OFAC Enforcement Actions By the Numbers: Who’s At Risk?

Recent Up Tick in Number of OFAC Enforcement Actions against IT/telecom, Offshore Services; California, New York and Texas Companies Most At Risk

October 20, 2017
By Anna Sayre, SanctionsAlert.com

Are you a business that thinks OFAC only takes action against New York-based financial institutions? Think again.

Since 2014, OFAC enforcement actions have significantly increased against non-financial institutions, particularly in IT/telecom and offshore services industries. Furthermore, in addition companies in New York, those in Texas, and especially California, remain highly at risk. read more…

Cross-Sector Conference in New York Engages Top Experts to Reveal the Trends in Sanctions and Export Controls Risk Management and Enforcement

October 13, 2017

Whether you work at a financial institution or corporation, sanctions compliance comes with a host of risks that require well-developed processes to address them. Such risks were the subject of the inaugural SanctionsAlert.com Sanctions Risk Management Symposium, co-hosted with Compliance Week and Financial Research Associates,which took place in New York last month. Sanctions compliance professionals and experts from companies representing different industries– such as Uber, Standard Chartered Bank, ZTE, AXA Group, Google, and others – gathered in NYC to exchange ideas and discuss their favored processes for mitigating the risks associated with sanctions and export controls. read more…

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