Tag Archives: violation

OFAC Announces Two Settlement Agreements and One Finding of Violation Concerning Various Parties

OFAC announced two separate settlement agreements for alleged violations of the Cuban Assets Control Regulations: (1) a US$614,250 settlement agreement with CGG Services S.A. and its affiliated companies, and (2) a US$304,706 settlement agreement with Halliburton Atlantic Limited and Halliburton Overseas Limited. OFAC also issued a Finding of Violation to MasterCard International Incorporated for violations of the Reporting, Procedures and … 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
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