The Treasury Department has underscored through penalties it has handed down this year for sanctions violations that US-based companies must subject their foreign subsidiaries to intense scrutiny.
US prosecutors have reached a plea deal with Russian company KS Engineering and its owner Oleg Nikitin over an alleged attempt to ship a gas turbine to Russia.
A US court has sentenced a former engineer at Massachusetts-based defence company Raytheon to prison for travelling to China with a laptop containing military secrets.
Airbnb says that it could be facing significant monetary penalties over its business in Cuba and that the US Treasury Department has ended a Crimea-linked probe with a warning.
The UK authority responsible for punishing the unlawful export of goods has opened fewer than five criminal investigations in each of the past three years.
3D Systems Corporation has been served with two federal grand jury subpoenas in a Justice Department investigation into its dealings in Iran, which is under scrutiny by several US enforcement agencies.
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The US Treasury Department has recently begun demanding that companies show evidence of how they will ensure ongoing compliance with US sanctions before it will remove them from banned entities lists.
The generous fine discount that the US Treasury Department handed a cookware coating producer that appointed two independent compliance monitors could represent a new avenue for companies looking to cut down potential monetary penalties for sanctions violations.
The US Treasury’s Office of Foreign Assets Control has been prolific in penalising companies for sanctions violations but doesn’t appear to have the same appetite for pursuing individuals.
The Netherlands’ lead sanctions prosecutor spoke to GIR about its major investigation, the uptick in enforcement and how her team wants to work with the private sector.
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