For A Consultation Call
(202) 517-1611 Habla Español not-gov
Close
X

International

Closure of 90-day Wind-Down Period Instills Fear; Auto Industry Halts Investments

Secondary Sanctions Program in the U.S.

With the first wave of reinstated sanctions hitting Iran on August 7, 2018, German carmaker Daimler froze its plans to expand into the Iranian market. Daimler, the world’s biggest luxury carmaker and commercial vehicles manufacturer, has reversed its 2016 plans to re-establish ties with Iran’s automotive industry. In 2016 Daimler established a joint venture with […]

New UN Security Council Sanctions and Current OFAC Sanctions on North Korea

On September 12th 2017, the Security Council passed, in a unanimous 15-0 vote, new economic sanctions against North Korea. These sanctions added an extra layer of international restrictions on the already isolated regime. The basis of the sanctions was drafted by the United States and after compromise with China and Russia were weakened just enough […]

Eliminating Terrorist Financing Without Damaging Legitimate Transactions

Addresses Terrorist Finance Elimination and Legitimate Transaction and Family Remittance Enhancement

Eliminating Terrorist Funding while Enhancing Legitimate Commercial Transactions and Family Remittances There is consensus that financing terrorism, via the international financial system, must be systematically eradicated while maintaining channels for legitimate commercial and family-related financial transactions.  Unfortunately, many international banking conglomerates refuse to do business with certain countries altogether, as their costs of compliance outweigh […]

OFAC Fines Barclays Bank Over Shadow Blocked Entities

Barclays Bank Fined by OFAC for Shadow Blocked Entities

Barclays Bank Pays Millions to Settle Sanctions Violations Involving Shadow Blocked Entities On February 8, 2016, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement between the agency and Barclays Bank Plc regarding apparent violations of the Zimbabwe Sanctions Regulations (ZSR). Specifically, Barclays (including its New York branch), processed […]

Cash Purchases May Complicate Real Estate Buys From Sanctioned Countries

Real Estate Buys for Immigrants Complicated by Cash Purchases

Heightened Scrutiny of Real Estate Cash Purchases May Complicate Future Buys by Those Tied to Sanctioned Countries On January 13, 2016, the Financial Crimes Enforcement Network (FinCEN) issued two new Geographic Targeting Orders (GTOs) that will temporarily require US title insurance companies to identify the natural persons behind companies used to pay “all cash” for high-end residential […]

North Korea’s Global Weapons Proliferation Network Targeted by OFAC Sanctions

North Korea's Weapons Proliferation Sanctioned

On December 8th, 2015, the Treasury Department’s Office of Foreign Assets Control (OFAC) took aim at the North Korean government’s attempts to procure weapons of mass destruction (WMDs) and related materials for production, presumably for the assembly of a strategic rocket force. Six North Korean nationals and three North Korean shipping companies have been added […]

OFAC Sanctions Prominent Japanese Yakuza Member

Former Yakuza Member Tadamasa Goto Sanctioned

On December 9th 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a press release designating Tadamasa Goto, a Japanese yakuza or gangster member known as the John-Gotti of Japan, as person completely prohibited from dealing with U.S. financial markets.

OFAC Sanctions Three Members of a Powerful Honduran Family and their Bank

Powerful Honduran and Their Bank Sanctioned

On October 7, 2015 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it had made several major designations pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act).  OFAC designations (opens as pdf) were made against Jaime Rolando Rosenthal Oliva, along with his son, Yani Benjamin Rosenthal Hidalgo, and […]

Navigators Insurance and The Importance of An OFAC Compliance Program

OFAC Compliance & Navigators Insurance

OFAC Fines Navigators Insurance Company without Compliance Program for Apparent Violations of Various Sanctions Programs. Several interesting things stand out regarding OFAC’s enforcement action against Navigators Insurance Company (“Navigators”).  On August 6, 2015, OFAC entered into a settlement agreement with Navigators to settle potential liability for apparent violations of the North Korea, Iran, Sudan, and […]

Indicted, Extradited, and Sanctioned

Alleged Foreign Drug Traffickers Defense Challenges

Legal & Practical Challenges to Representing Alleged Foreign Narcotics Traffickers Foreign nationals face several unique challenges when forced to appear in the United States to face allegations that they are narcotics traffickers.  Many foreign nationals facing extradition to the United States for narcotics trafficking have been indicted by at least one grand jury.  The grand […]

For A Consultation Or Questions Call
(202) 517-1611 7am to 11pm - Mon to Sun Habla Español فارسی