Enforcement Actions, Office of Foreign Assets Control (OFAC), Foreign Trade Regulations

Mexican Cartels as Foreign Terrorist Organizations: A New Era of Risk for Global Businesses

Guidepost Solutions LLC on 2/6/2025

On January 20, 2025, President Trump issued an executive order titled “Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists.” This directive instructs the...more

OFAC Imposes $860,000 Penalty on Vietnamese Beverage Company for Violations of North Korean Sanctions

The Volkov Law Group on 11/8/2024

North Korea Sanctions Violations - In a recent enforcement action, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) imposed an $860,000 penalty on Vietnam Beverage Company Limited (“VBCL”), a...more

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

The Volkov Law Group on 8/6/2024

The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has released a $7.45 million penalty against State Street Bank and Trust Company and its non-bank, fintech subsidiary Charles River Systems for...more

OFAC Ramps Up Price Cap Enforcement as Coalition Publishes Compliance Advisory for Maritime Oil Industry

The Volkov Law Group on 10/13/2023

It looks like the days of Russia’s so-called “shadow fleet” are numbered. The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced Thursday that it had imposed sanctions on two entities, and...more

British American Tobacco Pays $629 Million to Settle Violations of North Korea Sanctions (Part I of II)

The Volkov Law Group on 5/2/2023

The Justice Department warned companies that sanctions enforcement is the “new FCPA.” DOJ just delivered its first salvo to back up its message....more

Enforcement Actions › Office of Foreign Assets Control (OFAC) › Foreign Trade Regulations

Mexican Cartels as Foreign Terrorist Organizations: A New Era of Risk for Global Businesses

OFAC Imposes $860,000 Penalty on Vietnamese Beverage Company for Violations of North Korean Sanctions

State Street’s $7.45MM OFAC Penalty Highlights Importance of Sanctions in M&A Due Diligence

OFAC Ramps Up Price Cap Enforcement as Coalition Publishes Compliance Advisory for Maritime Oil Industry

British American Tobacco Pays $629 Million to Settle Violations of North Korea Sanctions (Part I of II)

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