Kingpin Sanctions Archives - Corruption, Crime & Compliance

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26 Mar, 2024

OFAC Settles First Case in 2024: EFG, a Private Bank, Pays $3.7 Million for Sanctions Violations

OFAC is getting ready for a big year. While managing a comprehensive set of sanctions against the Russian Federation in response to its Invasion of Ukraine, OFAC has demonstrated its ability to maintain aggressive enforcement of existing sanctions programs. The Justice Department and OFAC are forging a new enforcement partnership — and 2024 will be a precedent-setting year. Stay tuned for more on this new...

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26 Jul, 2022

OFAC Settles for $430,500 with American Express National Bank for Violation of Foreign Narcotics Kingpin Sanctions

Since its last enforcement action against Banco Popular in late May, OFAC has been quiet on the enforcement front. Notwithstanding its silence, OFAC has been managing a robust and complex coordinated economic sanctions program against Russia. On its face this effort is more than Herculean, given the need to coordinate with the EU, Allies and partners. It has been truly unprecedented and OFAC’s performance has...