Topic: Sanctions

UK proposes laws to strengthen economic crime enforcement

The raft of proposed legislative changes includes giving the Office of Financial Sanctions Implementation (OFSI) greater teeth by introducing strict liability for sanctions offences.

01 March 2022

OFSI reveals fine of payments company over Russian sanctions breaches

Details of the penalty were published after the company dropped a legal challenge that could have yielded valuable insights into OFSI’s working practices for UK sanctions lawyers.

22 February 2022

UK set to scrap golden visas over dirty money concerns

17 February 2022

Davis Polk partner confirmed as Treasury Department GC

The Senate confirmed Neil MacBride as the top lawyer at a government department that leads US sanctions and anti-money laundering efforts.

11 February 2022

US charges Chinese radio maker with trade secret theft

The US Department of Justice has accused Hytera, a Chinese-based telecoms company, of stealing technology developed by Motorola Solutions following a civil dispute between the two businesses.

08 February 2022

FCPA Docket: US aims to fix “corruption problem”

In today’s news roundup, a Republican senator wants to expand the FCPA to target companies that enable alleged human rights abuses in China and a Treasury Department official says the US knows it has its “own corruption problem”.

04 February 2022

Companies grapple with Chinese media backlash over US sanctions compliance

Companies complying with US sanctions focused on China’s Xinjiang region have faced a local media backlash. Lawyers say the retaliation puts multinationals at a crossroads.

28 January 2022

US sanctions authority clears Korea to pay Iranian award

South Korea says the US Office of Foreign Assets Control has authorised it to pay an investment treaty award to an Iranian family despite sanctions against Iran.

13 January 2022

We have an over-compliance problem, say in-house officials

In-house sanctions specialists say banks too often refuse to handle perfectly legal transactions out of fear of violating US sanctions.

12 January 2022

OFAC fines Hong Kong trading firm over Iran sanctions

The US fined a Hong Kong trading company $5 million after several employees went rogue and carried out transactions that violated sanctions on Iran.

11 January 2022

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