$1.7M settlement agreement reached between UBS AG and OFAC

On 27 August 2015, OFAC announced a $1,700,100 settlement with UBS AG (“UBS”)  for 222 apparent violations of § 594.201 of the Global Terrorism Sanctions Regulations (31 C.F.R. part 594). The settlement notice is here. Between January 2008 and January 2013, UBS was alleged to have processed 222 transactions related to securities held in the…

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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