Tag Archives: penalty

UK’s OFSI Consultation on New Civil Penalties for Sanctions Breaches

The Office of Financial Sanctions Implementation (OFSI) is currently consulting on its draft guidance on monetary penalties for breaches of financial sanctions within the context of new civil powers in the Policing and Crime Act 2017. This guidance sets out how OFSI will assess whether to impose monetary penalties and how those penalties will be … Continue Reading

Multiple Financial Institutions Settled Liability for Sanctions Violations

OFAC announced settlement agreements with Crédit Agricole Corporate and Investment Bank (CACIB) and Banco do Brasil for apparent violations of US sanctions. CACIB agreed to pay a total of US$787.3 million in criminal and civil financial penalties, which included penalties assessed by multiple government authorities, in connection with thousands of apparent violations of US sanctions. … Continue Reading