The company agreed to pay $950,000 to settle its potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations (ITSR)
A man was sentenced in the US this week to 55 months in prison for his connection with a scheme to provide private charter flights to members of former Venezuelan President Nicolás Maduro’s inner circle.
The long reach of U.S. law continues to affect persons, and companies around the world. Another non- U.S. company held liable by U.S. Authorities for not having a sanctions compliance program.
As 2020 came to a close, our friends in the U.S. have bestowed a few compliance “holiday gifts” upon us… so just in case you missed it, here’s what has been put under our tree:
Compliance Officers may soon add the Australia Sanctions Regime to their compliance toolkit. Starting from next year individuals who commit serious human rights abuses and corruption might be banned from entering Australia and have their assets seized under new laws to be introduced to… Continue Reading “Australia Sanctions Regime To Target Corruption and Human Rights Violations”
OFAC fined Warren Buffett’s company, Berkshire Hathaway, $4.2 million after its Turkish subsidiary (Iscar Turkey) knowingly violated the US sanctions against Iran.