ALL NEWSSANCTIONS

OFAC announces settlement for violation of Sanctions regime

The entity named MID-SHIP Group LLC entered into a settlement with the Department of Treasury of the USA, after the Office of the Foreign Assets Control (OFAC).

The settlement includes a penalty of $871.837 for payments related to a blocked person as per the Weapons of Mass Destructions Proliferators regulations.

The entity conducted transactions with a vessel named under the Specially Designated Nationals and Blocked Persons, by means of electronic transfer of funds.

This new settlement shows the attention that regulators and supervisors all across the world are giving to money laundering, terrorist financing and fight against proliferation of weapons of mass destruction.

Source

https://content.govdelivery.com/accounts/USTREAS/bulletins/24264b1

Tags

Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker