On April 17, 2024, OFAC formally rolled back the sanctions relief it previously provided to the Venezuelan oil and gas industry.  While OFAC provided the initial relief believing that Venezuela would permit a fair and open election, it appears that the Maduro regime has fallen short of its commitments.  As such, and as part of its agreement with the beleaguered South American nation, OFAC has...

NAVEX continues to produce high-quality compliance reports, many of which are a must-read in the compliance industry.  Its annual Whistleblower Report is of particular note — NAVEX is the leading provider of hotline services in the world and its data is invaluable as a source of trends in this industry. This year –2024 — is no exception.  NAVEX combed through the data from 3784 organizations...

Remarks given by Commerce Secretary Gina Raimondo and Undersecretary Alan Estevez during the 2024 Policy Update Conference sponsored by the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) emphasized the need for organizations to enhance their due diligence efforts to prevent the diversion of restricted commodities to U.S. adversaries, including, but not limited to, the Russian Federation and the Islamic Republic of Iran. ...