Sign up to save your podcasts
Or
Share Episode 202 -- A Deep Dive into the Alfa Laval OFAC Enforcement Case
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Episode 202 -- A Deep Dive into the Alfa Laval OFAC Enforcement Case
In two separate enforcement actions, OFAC announced settlements with Alfa Laval Middle East Ltd., a Dubai, UAE company (AL Middle East), and Alfa Laval, Inc., a Virginia-based company (AL US) for violations of OFAC’s Iran Sanctions Program. AL US enlisted its then subsidiary (now operating unit), Alfa Laval Tank, Inc, based in Exton, Pennsylvania (AL Tank), to participate in the scheme.
The Alfa Laval enforcement action underscores the dangers for global companies in compliance with US-based sanctions programs as part of global operations. The parent company, Alfa Laval AB is based in Sweden (AL Sweden). AL Middle East agreed to pay OFAC $415,695, and AL US agreed to pay OFAC $16,875.
In this Episode, MIchael Volkov reviews the OFAC enforcement action and points out interesting aspects and trends.
View all episodes
By Michael Volkov
4.9
4242 ratings
In two separate enforcement actions, OFAC announced settlements with Alfa Laval Middle East Ltd., a Dubai, UAE company (AL Middle East), and Alfa Laval, Inc., a Virginia-based company (AL US) for violations of OFAC’s Iran Sanctions Program. AL US enlisted its then subsidiary (now operating unit), Alfa Laval Tank, Inc, based in Exton, Pennsylvania (AL Tank), to participate in the scheme.
The Alfa Laval enforcement action underscores the dangers for global companies in compliance with US-based sanctions programs as part of global operations. The parent company, Alfa Laval AB is based in Sweden (AL Sweden). AL Middle East agreed to pay OFAC $415,695, and AL US agreed to pay OFAC $16,875.
In this Episode, MIchael Volkov reviews the OFAC enforcement action and points out interesting aspects and trends.
More shows like Corruption Crime & Compliance
View all
The Moth
27,011 Listeners
Amicus With Dahlia Lithwick | Law, justice, and the courts
3,530 Listeners
WSJ What’s News
4,420 Listeners
FCPA Compliance Report
20 Listeners
The Daily
113,121 Listeners
Up First from NPR
56,944 Listeners
RopesTalk
15 Listeners
The Atlantic Interview
14 Listeners
Innovation in Compliance with Tom Fox
17 Listeners
Great Women in Compliance
56 Listeners
The Intelligence from The Economist
2,592 Listeners
Compliance into the Weeds
12 Listeners
Strict Scrutiny
5,832 Listeners
The Ezra Klein Show
16,525 Listeners
Main Justice
7,014 Listeners