Sign up to save your podcasts
Or
Share OFAC Enforcement Case Study: The $3.7M Syrian Sanctions Violation
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
OFAC Enforcement Case Study: The $3.7M Syrian Sanctions Violation
In this episode of the Trade Compliance Brief, we break down the latest OFAC settlement involving a U.S. person residing abroad. We analyze the 20 violations of the Syrian Sanctions Regulations (SySR) that resulted in a $3.77 million penalty.
Key topics covered:
- The definition of a "U.S. Person" and why residency doesn't waive liability.
- What constitutes "Reckless Disregard" in the eyes of the Treasury.
- Why the termination of a sanctions program does not provide amnesty for past conduct.
- Actionable lessons for Global Compliance Programs and risk mitigation.
Link to OFAC enforcement release document: https://ofac.treasury.gov/media/935041/download?inline
View all episodes
By PeteIn this episode of the Trade Compliance Brief, we break down the latest OFAC settlement involving a U.S. person residing abroad. We analyze the 20 violations of the Syrian Sanctions Regulations (SySR) that resulted in a $3.77 million penalty.
Key topics covered:
- The definition of a "U.S. Person" and why residency doesn't waive liability.
- What constitutes "Reckless Disregard" in the eyes of the Treasury.
- Why the termination of a sanctions program does not provide amnesty for past conduct.
- Actionable lessons for Global Compliance Programs and risk mitigation.
Link to OFAC enforcement release document: https://ofac.treasury.gov/media/935041/download?inline