OFAC changes approach to cross-agency penalties

OFAC is changing how it calculates penalties in US sanctions investigations involving multiple enforcement agencies. Previously, companies have paid OFAC’s fines to other federal agencies in multi-agency settlements, and these were credited by the Treasury. Now, the Treasury will only give credit to fines paid to other agencies for sanctions violations which would also give rise to an OFAC penalty...

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About Maya Lester QC

Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...

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