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 …