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Home > Corruption Crime & Compliance > Episode 123 -- 2019 OFAC Enforcement and Compliance Review
Podcast: Corruption Crime & Compliance
Episode:

Episode 123 -- 2019 OFAC Enforcement and Compliance Review
Category: Business
Duration: 00:00:00
Publish Date: 2020-01-19 08:20:26
Description:

2019 was a big year for OFAC enforcement and compliance -- OFAC collected $1.28 billion in fines and penalties in a total of 26 separate enforcement actions.  OFAC also issued important compliance program guidance, mandating a number of important requirements for compliance programs.

OFAC's enforcement record for 2019 focused on supply chain sourcing; acquisition of foreign companies engaged in transactions with prohibited countries and customers; third-party distributors which re-sold to prohibited countries and customers; and compliance with specific Russia sectoral sanctions.

In this Episode, Michael Volkov reviews OFAC enforcement actions and trends and significant compliance requirements.
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