US factsheet on correspondent banking analyses sanctions penalties & enforcement

The US Treasury and Federal Banking Agencies (FBAs) have published a fact sheet on foreign correspondent banking, summarising key areas of federal supervisory and enforcement practice (link here). In relation to sanctions, the fact sheet says that: The largest OFAC penalties have followed a sustained pattern of serious sanctions violations, with intentional evasion of sanctions or failure by senior management...

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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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