Applying OFAC’s Sanctions Enforcement Guidelines to Determine A Civil Monetary Penalty (Part II of II)
In yesterday’s posting, I examined the General Factors identified by OFAC to determine whether to initiate a civil penalty proceeding and the amount of any civil monetary penalty. After analyzing these factors, OFAC determines the base penalty using a formula that depends on whether (a) the company voluntarily disclosed the matter; and (b) whether the violations are “egregious” or “non-egregious.” 1. Egregious case. OFAC determines whether...
