The latest monthly release of civil penalty information by the Office of Foreign Assets Control (“OFAC”) describes a penalty “settlement’ with the United Nations Federal Credit Union, which agreed to pay $500,000 to settle charges that the UNFCU “dealt in…
House and Senate conferees announced yesterday that they had reached agreement on the Iran sanctions legislation passed earlier this year by the House and Senate. The conferees also released the text of the newly agreed bill, now titled the Comprehensive…
Commercial computer security firm Sophos reports the recent appearance of spam emails that attempt to get the recipient to click on an Excel file attachment described as a “report of the declined deposit by OFAC.” If the attachment is opened,…
Yesterday when I posted on the latest release of civil penalty information by the Office of Foreign Assets Control (“OFAC”), I promised to do a second post on the $11,000 penalty paid to OFAC by GEICO General Insurance Company (“GEICO”).…
While I was traveling earlier this month, I missed the latest release of civil penalty information by the Treasury Department’s Office of Foreign Assets Control (“OFAC”). Both KLM and Geico were fined. We’ll look at the KLM case today and…