Payoneer, Inc., an online money transmitter and prepaid access company, agreed to pay $1.4 million to OFAC to settle violations of multiple sanctions programs. In an ironic twist, Payoneer, which often touts its comprehensive sanctions and anti-money laundering compliance programs to its business customers, had to acknowledge 2,260 apparent violations of OFAC sanctions. Payoneer is a well-known money service business (MSB) and acknowledged that it...
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