Global Investigations Review - The law and practice of international investigations

British bank settlement shows OFAC’s longer jurisdictional hook

By Sam Fry

25 October 2019

British bank settlement shows OFAC’s longer jurisdictional hook  Former OFAC chief counsel Sean Thornton

OFAC has foreshadowed that it will punish companies for violating sanctions even if dealings with the banned entity are outside of the US financial system, lawyers have warned.