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White Collar Crimes SDN List

The Volkov Law Group

OFAC Settles First Case in 2024: EFG, a Private Bank, Pays $3.7 Million for Sanctions Violations

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OFAC is getting ready for a big year.  While managing a comprehensive set of sanctions against the Russian Federation in response to its Invasion of Ukraine, OFAC has demonstrated its ability to maintain aggressive...more

American Conference Institute (ACI)

Sanctions Compliance Measures to Mitigate Russia Trade Sanctions Evasion Tactics

The various and elusive tactics used by Russia to evade global sanctions and export controls have grown increasingly sophisticated over the last several months, putting the onus on multinational entities to become equally...more

American Conference Institute (ACI)

Navigating U.S. Sanctions and Export Control Restrictions

Over the last several months, companies have become entangled in an increasingly complex web of new and expanded sanctions and export control restrictions related to Russia in response to its war on Ukraine. The current...more

The Volkov Law Group

DOJ Flexes Enforcement Muscle to Target Viktor Vekselberg, a Russian Oligarch and Co-Conspirator Assisting in Evasion of Russia...

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I am sticking with my 2023 prediction – DOJ is committed to aggressive enforcement of the Russia sanctions.  Most of its efforts to date have been directed against Russian Oligarchs and significant evaders who are moving...more

The Volkov Law Group

Former Special Agent in Charge of the FBI New York Counterintelligence Division Charged with Violating Russia Sanctions

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In an ironic twist (or you just can’t make this up moment, whichever you prefer), the Justice Department announced the arrest of Charles McGonigal, the former Special Agent in Charge (“SAC”) of the FBI’s Counterintelligence...more

Manatt, Phelps & Phillips, LLP

U.S. Economic Sanctions Against Russia Grow Amid the Ukraine Crisis: What Businesses Need to Know (UPDATED)

Originally Published: February 25, 2022 – Updated: May 16, 2022 U.S. economic sanctions against Russian interests continue to build in response to the developing situation between the Russian Federation and Ukraine. Donetsk...more

Manatt, Phelps & Phillips, LLP

U.S. Economic Sanctions Against Russia Grow Amid the Ukraine Crisis: What Businesses Need to Know (UPDATED)

Originally Published: February 25, 2022 – Updated: March 15, 2022 U.S. economic sanctions against Russian interests have been building in response to the developing situation between the Russian Federation and Ukraine....more

The Volkov Law Group

NewTek, Inc., a Software Provider, Settles OFAC Violations for $189,483

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The Treasury Department’s Offices of Foreign Assets Control (“OFAC”) continues its enforcement run in 2021, and added yet another tech company to its list of targets....more

Womble Bond Dickinson

Administration's Anti-Corruption Efforts Likely to Yield Greater FCPA Enforcement in Latin America and Beyond

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On June 3 of this year, the Biden Administration made plain its commitment to fighting corruption around the world, releasing a document identifying the fight against corruption “as an economic and national security priority”...more

The Volkov Law Group

Deutsche Bank Settles Two OFAC Cases Totaling $583K for Violations of Ukraine-Russia Sanctions

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Deutsche Bank continues to have its problems – legal, compliance and reputational.  Now, we can add OFAC sanctions compliance to the list of Deutsche Bank’s troubles....more

The Volkov Law Group

Swiss Telecomm Company Pays $7.8 Million to Settle OFAC Sanctions Violations

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OFAC continues to aggressively enforce its sanctions programs.  In its latest enforcement action, OFAC agreed with Société Internationale de Télécommunications Aéronautiques SCRL (“SITA”), a Swiss telecom company, to an...more

The Volkov Law Group

OFAC Issues First Two Enforcement Actions of 2020

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OFAC had a big year in 2019 and 2020 looks like a continuation.  In the last week, OFAC issued two enforcement actions —  Eagle Shipping and Park Strategies....more

Foley Hoag LLP - White Collar Law &...

White Collar Year in Preview: Sanctions/Export Controls Trends in 2020

This is the sixth in our start-of-year series examining important trends in white collar law and investigations in the coming year. Our previous entry discussed enforcement by the Massachusetts Attorney General’s Office in...more

The Volkov Law Group

Apollo Aviation Group Pays $210k to OFAC for Violations of Sudanese Sanctions Program

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Apollo Aviation Group, now Carlyle Aviation Partners, agreed to pay OFAC $210,600 for 12 violations of the Sudanese Sanctions Program.  Carlyle acquired Apollo in December 2018, and Carlyle was not involved in the...more

The Volkov Law Group

Episode 118 -- Update on OFAC Enforcement and Lessons Learned

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OFAC's aggressive enforcement program continues. Recently, OFAC announced settlements with Apollo Aviation and Apple. Both of these cases underscore the importance of enhancing OFAC compliance programs. In this Episode,...more

The Volkov Law Group

General Electric Pays OFAC $2.7 Million for Violations of Cuba Sanctions Program

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OFAC’s aggressive enforcement program continues to bear fruit.  The latest settlement involved GE and three of its subsidiaries, which agreed to pay $2.7 million for 289 alleged violations of the Cuba Sanctions Program. So...more

The Volkov Law Group

OFAC’s New §501.604 Reporting Requirement: A Small Change with a Big Impact

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On June 21, 2019, OFAC changed its requirements for reporting on blocked or rejected transactions under 31 C.F.R. §501.604.  With little fanfare, the interim rule published in the Federal Register greatly expands the...more

Thomas Fox - Compliance Evangelist

Miranda Rights and Instituting a Broader Supply Chain Risk Management Program

On of the most well known of all criminal procedural rights was established by the US Supreme Court on this day in 1966, when the Court handed down its Miranda v. Arizona decision. It established the legal principle that all...more

The Volkov Law Group

OFAC Fines US Company for Iran Sanctions Violations

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There is no question that OFAC continues to dominate the enforcement landscape this year.  OFAC has provided plenty of warning and notice to global companies, especially those in the manufacturing and industrial sectors....more

Hogan Lovells

O sanction! My sanction! Sanctions, banks, and Southeast Asia - SEA View, April 2019

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SEA View: Our new monthly periodical has launched! From April 2019, this periodical will feature investigation, compliance, and regulatory developments in Southeast Asia (SEA). For a twelve-month spell, one monthly article...more

The Volkov Law Group

OFAC Announces Russia Sanctions Settlement with Software Company

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The Department of Treasury’s Office of Foreign Asset Control (“OFAC”) recently announced a settlement against Cobham Holdings (and its former subsidiary Aeroflex/Metelics, Inc. (“Metelics”, a software company) for $87,507 for...more

The Volkov Law Group

Update on Russia Trade Sanctions

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The Trump Administration Treasury Department’s Office of Foreign Asset Control activity has been interesting to watch. On the one hand, OFAC has been implementing aggressive sanctions against Russia in reaction to Russia’s...more

The Volkov Law Group

Making the Case for Requiring Beneficial Ownership Information

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In this era of aggressive enforcement, global companies have to integrate beneficial ownership requirements when conducting due diligence of business associates and when engaging customers....more

The Volkov Law Group

Important Polling Results from BVD Webinar on Beneficial Ownership

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On July 5, 2017, Bureau Van Dijk, a sponsor of my blog, conducted a webinar on the importance of beneficial ownership information to corporate compliance functions....more

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