Compliance Insights
More Sanctions Against VTB Bank Significantly Raises the Risk Bar for Financial Institutions
On September 14, 2026, VTB Bank Public Joint Stock Company, a major bank of the Russian Federation, became one of the world’s most extensively sanctioned
Wisconsin Company Fined for Sanctions Violations of Non-U.S. Subsidiary
OFAC’s August 12, 2026, fine of more than $60,000 on Rice Lake Weighing Systems demonstrates how U.S. companies can be penalized for actions of a
UBS Financial Services Hit With $125 Million AML Penalty
On August 3, 2026, FinCEN published a Consent Order and combined penalty of $125 million against UBS Financial Services for recidivist and willful violations of
Anti-Bribery Controls Over Third Parties is Essential
A July 2026 federal bribery prosecution of a U.S. firm and resulting criminal fine and forfeiture of more than $10 million is a harsh reminder
When Indirect Payments Result in Sanctions
In the June 1, 2026, settlement between an economic consulting and advisory firm (“the company”) and the U.S. Treasury’s Office of Foreign Assets Control, companies
High Risk Industries Need More Than Know Your Customer Screening
In a case that highlights how costly direct and indirect sanctions risks can be, OFAC fined a multi-national utility corporation headquartered in India, and its