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A Dallas-based global payments company settled potential civil liability with OFAC
for alleged violations of multiple sanctions regulations.
According to OFAC, in connection with services the company
provided to the DOJ s Federal Bureau of Prisons, the
company:
failed to screen customers against the List of Specially
Designated Nationals and Blocked Persons ( SDN
List );
processed transactions for blocked individuals as a result of
human error and screening, technology and fuzzy logic
failures ; and
inappropriately determined that commercial transactions related
to Syria qualified as noncommercial, personal remittances.
Friday, April 23, 2021
On April 15, 2021, the US announced a marked expansion of sanctions against Russia and President Biden issued a new Executive Order authorizing the imposition of yet more sanctions. The sanctions include restrictions on certain transactions involving Russian sovereign debt, as well as the designation of 46 individuals and entities implicated in Russia’s annexation of Crimea, foreign election interference and the SolarWinds cyberattack. The new Executive Order provides broad authority to impose additional sanctions should the Biden Administration decide to do so.
Executive Order 14024
Executive Order 14024 Blocking Property With Respect to Specified Harmful Foreign Activities of the Government of the Russian Federation, authorizes sanctions on a range of persons, including, among others, those operating in the technology and defense and related materiel sectors of the Russian Federation economy, and in any additional sectors of the Russian Fe
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The Biden administration has issued new sanctions on Russian individuals and entities as well as prohibitions on US financial institutions transactions with Russia s Central Bank, National Wealth Fund, and Ministry of Finance.
Following indications that it would take a tougher stance on Russia, on April 15, 2021, the Biden Administration issued new sanctions targeting Russian individuals and entities for a range of “continued and growing malign behavior” in the form of a new Executive Order (the Russia EO) as well as Directive 1 prohibiting certain activities of U.S. financial institutions (Russia Directive 1). The Russia EO allows for the imposition of sanctions against Russian persons operating in certain sectors of the Russian economy or who have been deemed to engage in a variety of activities contrary to the interests of the United States. Russia Directive 1 prohibits U.S. financial institutions from engaging in
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On April 15, 2021, following discussions just days earlier of a
potential summit between President Biden and Russian President
Putin and as Russian troops amassed along the Ukrainian border, the
Biden Administration
issued long-awaited and highly anticipated sanctions against
Russia, including a far-reaching new executive order
(
E.O. ), Blocking Property With
Respect To Specified Harmful Foreign Activities Of The Government
Of The Russian Federation, which authorizes sanctions on any person (individual or entity) determined to meet an
expansive array of criteria related to the Russian Federation s
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On 15 April 2021, the U.S. Government announced a number of new sanctions measures against Russia, targeting a variety of “harmful foreign activities” contrary to U.S. foreign policy. Specifically, the U.S. Government added several parties to the SDN List and issued a new Executive Order, expanding the basis for additional designations in the technology and defense sectors, as well as a new directive imposing targeted financial sanctions related to Russian sovereign debt.
On 15 April 2021, the U.S. Government announced a number of new sanctions measures against Russia, targeting a variety of “harmful foreign activities” contrary to U.S. foreign policy. In addition to designating a number of entities on the List of Specially Designated Nationals and Blocked Persons (SDN List) under existing authorities, President Biden issued Executive Order (EO) 14024, expanding the basis additional designations, including ex