Italian wire service Adnkronos International reported today that the New York branch of Italian bank Intesa Sanpaolo is under investigation in the United States in connection with its involvement in U.S.-dollar wire transfers originated by sanctioned banks and individuals in…
The Office of Foreign Assets Control (“OFAC”) released today its monthly report on civil penalties, and it was indeed a short list with one short entry. And since there’s only one entry it, not surprisingly, involved the “terrorist” island just…
On Tuesday, the Office of Foreign Assets Control (“OFAC”) revised the FAQs on its website to address a problem in interpreting guidance it issued last February on transactions with a company in which a Specially Designated National (“SDN”) had an…
While looking for background on the recent action of the Office of Foreign Assets Control (“OFAC”) extending a General License permitting transactions with two sanctioned Belarusian companies, I stumbled across this post at Bielar.us. That site is a DC-based blog…
Not too long ago when I posted on Cabela’s settlement of export violation charges alleged by the Bureau of Industry and Security (“BIS”), I noted that part of the settlement agreement required Cabela’s to complete BIS’s “Export Management Systems Review…