By Maya Lester KC & Michael O’Kane

Citigroup settles breach of us sanctions regulations

On 3 September 2014, the US Department of Treasury announced that Citigroup Inc. had agreed to remit $217,841 to settle potential civil liability resulting from eight apparent violations of sanction regulations implemented by the Office of Foreign Assets Control (OFAC). Citi Penang processed four export bill collection applications totalling $638,074.15 on behalf of Citibank, involving the shipment of goods to...

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About Maya Lester KC

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Maya Lester KC is a senior barrister (King’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...

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