OFAC reaches $345k settlement agreement with Atradius Trade Credit Insurance

OFAC and Atradius Trade Credit Insurance have agreed a settlement of $345,315 to settle ATCI’s civil liability for 2 violations of the Foreign Narcotics Kingpin Sanctions Regulations, 31 C.F.R. Part 598. In 2016, OFAC designated Grupo Wisa and the Soho Mall Panama under the Kingpin Act (see post). ATCI was instructed by an American cosmetics company to collect a $5.7m …

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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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