OFAC Settles with Bank of China for $2.3 Million for Violation of Now-Repealed Sudan Sanctions Program (Part II of IV)
The UK-based Bank of China agreed to pay $2.3 million to settle violations of OFAC’s Sudan Sanctions Program. OFAC repealed the Sudan sanctions in October 2017 but is continuing to investigate violations of the Sudan Sanctions Program that occurred prior to October 2017. The enforcement action was the result of an internal investigation and voluntary disclosure triggered by a bank action blocking a customer transaction. ...
