Archives: Sanctions Enforcement

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Upcoming Webcast: 2015 Developments Regarding Economic Sanctions and Export Controls

Join us on Tuesday, December 15 for this complimentary webinar discussing economic sanctions, export control, and related developments over the past year.  Featured panelists include Steptoe International Compliance Blog contributors Alex Baj, Jack Hayes, Stephen Heifetz, Andy Irwin, Anthony Rapa, Meredith Rathbone, and moderator Ed Krauland. Date:   Tuesday, December 15, 2015 Time:   12:00 p.m. – 1:30 … Continue Reading

Crédit Agricole Settlement of Sanctions Allegations

On October 20, Crédit Agricole Corporate and Investment Bank (CA-CIB), based in France, settled sanctions allegations with the DOJ, OFAC, the Federal Reserve, and New York state authorities.  CA-CIB was alleged to have violated US sanctions against Sudan, Iran, Myanmar, and Cuba by “stripping” information related to those countries from payment messages when sending funds transfers … Continue Reading

OFAC Finding of Sanctions Violation Prompts Guidance on “False Hit Lists”

On October 21, 2015, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a Finding of Violation against BMO Harris Bank as the successor to Marshall and Ilsley Bank, which originated over $67,000 in funds transfers in 2011 on behalf of an entity involved in importing Iranian-origin carpets.  The bank had previously processed … Continue Reading