Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on a network encompassing seven individuals and six entities across Iran, China, and Hong Kong, citing links to Iran's ballistic missile program.
The June 6 action accused the network of facilitating procurement and financial transactions for critical components and technology required for Iran's ballistic missile development.
Export practitioners and regulators were called to the hill in recent weeks to explain to lawmakers what was being done and what could be improved. BIS and Treasury Officials fielded queries in the Senate, while an oversight committee in the House invited former Commerce officials to discuss what could be done better.
The Financial Crimes Enforcement Network (FinCEN) and the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce have issued a supplemental joint alert urging financial institutions …
Assistant Attorney General Kenneth Polite Jr. , head of the Department of Justice's (DOJ) criminal division, reports an increase in corporate disclosures following the implementation of new …
It isn’t front and center in the news, but it seems everybody thinks Cuba is the next big thing, and it's been the next big thing for a long time. Our readers would like to hear what you suggest, to Industry and the academic community, about how to engage and how to stay out of trouble in the process
A year ago, a breakthrough was expected in the U.S.-Cuba economic relationship when the Biden administration approved the first OFAC license allowing direct investment in and direct financing to a privately-owned Cuban company. However, no funds have been delivered, due to a lack of regulatory framework by the Cuban government, and conviction in Washington is lacking.
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